The family behind theScore Media and Gaming brand is set to move on from their homegrown operation.
PENN Entertainment announced Wednesday via press release that theScore’s Founder and Executive Chairman, John Levy (above), along with Benjie Levy, Aubrey Levy, and Noah Levy will be stepping down from their posts at Penn Interactive in a phased exit.
Starting with John in mid-February, Benjie, Aubrey, and Noah will depart in April 2024, per the release.
“Working at PENN has been extremely rewarding and we want to thank Jay [Snowden], Todd George and the entire PENN team for their partnership and support as we brought these two organizations together to execute on our uniquely integrated media and betting strategy,” said Benjie Levy, Head of PENN Interactive and President and Chief Operating Officer of theScore.
“Our focus on creating industry leading technology and products has been second only to our efforts in building a world class team and fostering a special place to work. We could not be more proud of this team and what we have accomplished together, and we look forward to watching as they continue to build upon the successful foundation we established at theScore.”
Brought to life in 1997 as theScore Media, the sports news, information, and entertainment hub with Canadian roots grew into one of the most recognizable sports media brands in North America. PENN acquired theScore in October 2021, merging it with its PENN interactive unit.
On April 4, 2022, the Toronto-based company launched its Ontario online casino and Ontario sportsbook product, theScore Bet.
Levy departures part of planned leadership transition
To the public, the Levy’s departure may have come unexpectedly. But, to the family and those within the company, it comes as part of a planned leadership transition.
The moves follow a particularly key 22-month stretch for the outfit, which PENN CEO and President Jay Snowden called a “natural inflection point.” In that time, it successfully rolled out ESPN BET and theScore Bet, while also installing its proprietary technology platform.
Snowden also went on to praise the Levy family for the integral role they’ve played in driving the business forward.
“The Levys are a family of successful entrepreneurs and are truly pioneers in the sports media and gaming industry,” said Snowden.
“I am very proud of what we’ve been able to accomplish with them, including the development of an extremely deep and talented bench at PENN Interactive. With this experienced, best-in-class team firmly in place, we are well prepared for this to be a seamless transition and to continue growing our position as a leader in online gaming and sports media.”
In accordance with the scheduled leadership transition, the company says it’s in the final stages of its search for a new Head of Interactive.
theScore Bet, nature of Ontario market provides PENN’s blueprint for success
In last November’s third-quarter report, PENN often praised theScore Bet and Ontario’s iGaming market for providing the blueprint for success. Specifically, the report included a section titled “Ontario: A case study for success.”
Here, the company spoke about the effectiveness of its integrated media strategy with theScore and theScore Bet. In particular, such a model allows for greater conversion from its online sportsbook over to its online casino product. By now, it’s no secret that online casino is the straw that stirs the drink in Ontario.
So, it’s no surprise that the strategy paid off handsomely in Q3. According to the report, more than 50% of theScore Bet’s sportsbook users were converted to becoming users of its online casino. What’s more, PENN said theScore Bet was able to convert users 44% better than it did a year ago.
PENN adopted the same strategy with its highly anticipated ESPN BET online sportsbook and casino. The platform, which employs theScore Bet’s technology, went live in 17 states on Nov. 15, 2023.
