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PENN ENTERTAINMENT, INC.

(PENN)
  Report
Delayed Nasdaq  -  04:00 2022-10-04 pm EDT
30.55 USD   +8.72%
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Penn National Gaming : TheScore Bet Becomes First Prospective Private Market Operator in Ontario to Achieve Responsible Gaming Accreditation Under the Responsible Gambling Council's RG Check Program

01/26/2022 | 11:47am EDT

- theScore Bet Completes Rigorous Accreditation Process in Preparation for Ontario's Regulated Sports Betting and iGaming Market -

WYOMISSING, Pa and TORONTO - January 26, 2022 - Penn National Gaming, Inc. (Nasdaq: PENN) ("Penn National" or the "Company") is pleased to announce that its subsidiary, Score Digital Sports Ventures (Canada) Inc. ("theScore Bet"), has received RG Check iGaming Accreditation from the Responsible Gambling Council (RGC). theScore Bet is the first prospective private market operator in Ontario to achieve this accreditation, which is widely regarded as one of the most comprehensive responsible gambling accreditation programs in the world.

"Receiving RG Check Accreditation demonstrates our unwavering commitment to responsible gaming," said Josh Sidsworth, General Counsel and Chief Compliance Officer, theScore Bet. "We elected to undergo RG Check Accreditation to ensure that we are positioned to deliver the best and safest possible experience for our players. It was important to us that we completed this accreditation ahead of theScore Bet's launch in our home market of Ontario. We're also pleased to deepen our relationship with the Responsible Gambling Council as we further establish our responsible gaming thought leadership position in Canada."

The Responsible Gambling Council developed RG Check in consultation with policy makers, gambling providers, players and people who have experienced gambling harm. The accreditation process helps gambling operators evaluate, monitor and manage all aspects of their RG strategy. Based in Toronto, Canada, the RGC has grown into a globally-recognized leader in responsible gaming.

"Congratulations to theScore Bet on achieving RG Check Accreditation," said Shelley White, CEO of the Responsible Gambling Council. "This achievement is a strong demonstration of Penn National Gaming's leadership in responsible gambling and prioritizing transparency, player education, and harm minimization in theScore Bet's operations. RG Check Accreditation is an important tool for continuous improvement, providing operators with feedback and insights that help increase the effectiveness of their RG programming and manage risk. RGC commends theScore Bet on their leadership."

theScore Bet previously announced that it received Gaming Labs International certification for Ontario, evidencing gaming platform compliance with the Registrar's Standards for Internet Gaming. theScore Bet is the first prospective online gaming operator to secure GLI Certification in Ontario, satisfying one of the pre-launch requirements it must achieve before it may offer internet sports betting and iGaming as a regulated operator in its home province.

For more information, please visit Penn National Gaming's Responsible Gaming Commitment website and theScore Bet's Responsible Gaming Code of Conduct.

About Penn National Gaming
With the nation's largest and most diversified regional gaming footprint, including 44 properties across 20 states, Penn National is a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company's land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. In addition, in October 2021, Penn National acquired Score Media and Gaming, Inc. ("theScore"). Combined with the power of Barstool Sports and theScore, Penn National has become North America's leading digital, entertainment, sports content, gaming and technology company. The Company's omni-channel approach is further bolstered by its mychoice loyalty program, which rewards and recognizes its over 24 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

About theScore
theScore, a wholly-owned subsidiary of Penn National Gaming, empowers millions of sports fans through its digital media and sports betting products. Its media app 'theScore' is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favorite teams, leagues, and players. theScore's sports betting app 'theScore Bet' delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. theScore also creates and distributes innovative digital content through its web, social and esports platforms.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "expects," "believes," "estimates," "projects," "intends," "plans," "goal," "seeks," "may," "will," "should," or "anticipates" or the 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 expected commencement of regulated online iGaming and sports betting in the Province of Ontario and theScore Bet's offering of the same. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company's future financial results and business. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the ongoing impact of the COVID-19 pandemic on general economic conditions, capital markets, unemployment, consumer spending and the Company's liquidity, financial condition, supply chain, operations and personnel; and (b) other factors as discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the U.S. Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

For more information:
Dan Sabreen
Vice President, Communications
theScore
Tel: 917-722-3888 ext. 706
Email: dan.sabreen@thescore.com

Disclaimer

Penn National Gaming Inc. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 16:46:09 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 6 364 M - -
Net income 2022 216 M - -
Net Debt 2022 8 416 M - -
P/E ratio 2022 24,4x
Yield 2022 -
Capitalization 4 794 M 4 794 M -
EV / Sales 2022 2,08x
EV / Sales 2023 2,01x
Nbr of Employees 21 973
Free-Float 92,6%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 30,55 $
Average target price 50,56 $
Spread / Average Target 65,5%
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Managers and Directors
Jay A. Snowden President, Chief Executive Officer & Director
Felicia Kantor Hendrix Chief Financial Officer & Executive Vice President
David A. Handler Chairman
Richard Primus Chief Information Officer & Senior Vice President
Todd George Executive Vice President-Operations
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