theScore, which is based in Toronto, announced Monday its subsidiary Score Digital Sports Ventures has been approved for a temporary Sports Wagering Vendor License in the state of Indiana.
The Indiana Gaming Commission included Score Digital on its most recent list of sports wagering licensees released Monday. theScore had previously gained access to Indiana’s sports wagering market through an agreement with Penn National Gaming last July in which Penn National took a $10 million equity stake in the Canadian company.
Penn National’s deal with theScore specific to Indiana allows the latter “second skin” access in the Hoosier State. Penn National has a first skin as owner and retail operator of the Hollywood Casino sportsbook in Lawrenceburg, which is located near Cincinnati.
Penn Interactive Ventures, PNG’s wholly-owned subsidiary, also has gambling skin relationships with DraftKings, PointsBet, and The Stars Group. PointsBet currently operates Hollywood’s mobile betting platform in Lawrenceburg.
April sports betting handle takes beating due to COVID-19
The IGC also released its April figures for sports betting, and like other states with legalized sports betting, its handle took a beating due to the COVID-19 pandemic. The Hoosier State reported $26.3 million in wagers placed, a falloff of nearly 65% compared to March’s handle of $74.8 million.
The 13 retail sportsbooks have been closed since March 14 due to the pandemic, and six are currently offering mobile and online sports wagering.
The IGC reported a 5.93% hold, which resulted in revenues of slightly less than $1.6 million and generated $148,189 in tax revenue. April’s handle was 86% off Indiana’s record handle of $187.1 million established in February, but Indiana has still seen an overall handle of $877 million since opening last September while receiving nearly $6.9 million into its tax coffers.
Remote registration serves as lifeline for some tax revenue
With Indiana’s April handle exclusively drawing from mobile and online betting from six casinos, its decision to offer remote registration to bettors could prove an important benefit as the state slowly re-opens. It offers a sharp contrast to sports betting in Iowa, which requires in-person registration to gain access to mobile and online betting. The Hawkeye State also released its April sports betting figures and reported a handle of just $1.6 million despite having online availability through 13 of its 18 casinos.
