TORONTO – (COMMERCIAL THREAD) – Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) (“the score“or the”Society“) is pleased to announce that the Supreme Court of British Columbia has issued a Final Order approving the previously announced Plan of Arrangement (the”Arrangement“) under which Penn National Gaming, Inc. (“Penn National“), through its subsidiary, will acquire all of the outstanding shares of theScore (other than those held by Penn National and its subsidiaries).
Subject to satisfaction or waiver of other closing conditions contained in the Arrangement Agreement with Penn National, the Arrangement should be concluded. October 19, 2021.
About Score Media and Gaming Inc.
theScore empowers millions of sports fans through its digital media and sports betting products. Its multimedia application âtheScoreâ is one of the most popular in North America, providing fans with highly personalized live scores, news, statistics and betting information from their favorite teams, leagues and players. TheScore Bet company’s sports betting app offers an immersive and holistic mobile sports betting experience and is currently available for placing bets in New Jersey, Colorado, Indiana and Iowa. theScore also creates and distributes innovative digital content through its web, social and esports platforms.
About Penn National Gaming
With the largest and most diverse regional gaming footprint in the country, comprising 43 properties in 20 states, Penn National continues to evolve into a highly innovative omnichannel provider of retail and online gaming, live racing and sports betting entertainment. The Company’s properties include approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar and L’Auberge. Our wholly-owned interactive division, Penn Interactive, manages retail sports betting across the company’s entire portfolio, as well as online social casino, bingo and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, under which Barstool exclusively promotes the Company’s land and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company’s omnichannel approach is reinforced by thechoice loyalty program, which rewards and recognizes its more than 24 million members for their loyalty to retail and online gaming and sports betting products with the most dynamic set of offerings, experiences and service levels of the sector.
Forward-Looking Information This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as “expects”, “believes”, “estimates”, “plans”, “intention”, “plans”, “a. objective â,â seeks â,â research â,â may, ââ will â,â should âorâ anticipate âor negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding the Arrangement and the expected closing thereof. These statements are all subject to risks, uncertainties and changes in circumstances that could have a material impact on the Company’s future financial results and activities as well as on the expected completion of the Arrangement and the timing thereof. . Accordingly, the Company cautions that the forward-looking statements contained in this document are qualified by important factors which could cause actual results to differ materially from those reflected by such statements. These factors include, but are not limited to: (a) closing of the Arrangement may be delayed or not take place at all, for reasons beyond the control of the Company; (b) the requirement that the closing conditions of the arrangement agreement with Penn National be met or waived; (c) the occurrence of an event, change or other circumstance which could entitle one or both of theScore and Penn National to terminate the Arrangement Agreement between the Companies; and (d) other factors as discussed in theScore’s Annual Information Form as filed with applicable securities regulatory authorities in Canada and as filed with the United States Securities and Exchange Commission, and elsewhere in documents that theScore files from time to time with these securities regulatory authorities in Canada and with the United States Securities and Exchange Commission, including its MD&A and dated theScore management information circular as of September 10, 2021. The Company does not intend to publicly update any forward-looking statements, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events described in this press release may not occur.