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      Why The SCR Stock Has Fallen Nearly 8%? - Stocks Telegraph

      By ST Staff

      Published on

      July 14, 2021

      10:21 AM UTC

      Why The SCR Stock Has Fallen Nearly 8%? - Stocks Telegraph

      Score Media and Gaming Inc. (SCR) shares fell -7.84% to $16.35 in Tuesday’s after-hours session. theScore stock slumped -2.42% to close at $17.74. SCR stock traded 0.35 million shares, which is below the average daily volume of 0.61 million shares for the last 50 days.

      SCR shares have declined -4.21% in the last five days, but have gained -17.53% over the past month. During the last three months, SCR stock has shed -14.05%, and it has gained 241.15 percent so far this year. After releasing financial results, SCR stock dropped.

      Performance of SCR:

      theScore’s digital media and sports betting products reach millions of sports fans. theScore is SCR’s popular media app in North America for providing fans with highly personalized information on the latest scores, news, and statistics about their favorite teams, leagues, and players.

      TheScoreBet, SCR’s mobile app for sports betting, offers an immersive and comprehensive mobile wagering experience. Bets may be placed in New Jersey, Colorado, Indiana, and Iowa. Through SCR’s web, social, and esports platforms, the company creates and distributes innovative digital content.

      theScore released yesterday its third-quarter and nine-month results for the period ended May 31, 2021.

      Financial Results

      • SCR’s total revenue for the third quarter of fiscal year 2021 was $6.4 million, including $8.9 million in record media revenue and $2.5 million in negative net gaming revenue.
      • A year-over-year increase of 270% was achieved in media revenue during the quarter, from $2.4 million for the same quarter last year and 5.0% above the same period in 2019.
      • In Q3 F2021, there was $73 million in gaming handle and a loss of $40,000 in gross gaming revenue.
      • SCR generated a negative net gaming revenue of $2.5 million after taking into account promotional costs and fair value adjustments on unsettled bets.
      • For the same period last year, SCR suffered an EBITDA loss of $8.7 million.
      • In addition to the continued expansion of SCR’s gaming business, additional expenses related to US IPO costs and professional fees contributed to SCR’s wider EBITDA loss.

      SCR’s key figures:

      SCR (theScore) delivered record third quarter revenue across all of its businesses in fiscal 2021, both from games and media. Compared with the same period in 2019, revenue for the third quarter of $8.9 million grew by 270%. A unique, integrated approach to sports media and betting enabled SCR’s theScore Bet to generate $73.0 million in gaming handle in March, including $30.8 million wagered, representing one of the company’s biggest gambling month to date. SCR is preparing to launch theScore Bet in additional US states over the next year, in anticipation of at least doubling the number of markets in which it is available.

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