About Us
  • Content
  • Casinos
  • Community
  • Bonuses
  • Bookmakers
  • Awards
  • Games
  • Blacklisted
  • Land-based
  • Guides
Check Casinos Casino Awards Crypto Casinos
Best Bonuses
All Bonuses
WooCasino
Welcome Package up to 300 CAD + 200 FS
Get
Playamo
Welcome Package up to 1500 CAD + 150 FS
Get
BetChan
11% real money weekly cashback
Get
Get $5 to your account, 1000+ free spins and 20% VIP Cashback
Register Now
Top Content
All Content
Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!

Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!

Your Complete Guide to Payment Methods for Gambling in Canada (2025)

Your Complete Guide to Payment Methods for Gambling in Canada (2025)

One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes

One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes

About Us

We use cookies on this sit
to enhance your user experience

Privacy Policy
  • Content
  • Casinos
  • Games
  • Community
  • Bonuses
  • Blacklisted
  • Land-based
  • Bookmakers
  • Awards
Browse
  • Player Blogs
  • Guides
  • Complaints
  • Casino Ratings
  • Trusted Casinos
  • Crypto Casinos
  • Free Slots
About Us

We use cookies
on this site to enhance
your user experience

Privacy Policy
  • Main
  • Content
  • News
Casino Ratings
Trusted Casinos
Crypto Casinos
News
05 June 2024
MarkPatterson
img
MarkPatterson
MarkPatterson

Investor Criticizes Penn Entertainment's Acquisition of theScore

3
959 views

A significant investor has raised concerns about Penn Entertainment's strategic decisions, specifically targeting the acquisition of Canadian sports media and betting brand Score Media and Gaming.

In the latter half of 2021, Penn acquired Toronto-based theScore for approximately $2.1 billion USD (around $2.5 billion CAD at the time). The acquisition was touted as a move to enhance Penn's digital media and gaming strategy, aiming to create "a complete one-stop entertainment destination." Penn highlighted theScore's pool of Canadian engineering and technology talent as a key attraction.

However, in an open letter to Penn Chairman David Handler, the Donerail Group, a major investor in Penn, expressed doubts about the benefits of this acquisition. Donerail's managing partner, Will Wyatt, argued that theScore's integration has not delivered the expected returns and questioned the rationale behind the purchase. Wyatt pointed out that theScore, a relatively small company with less than $25 million USD in annual revenue, did not significantly boost Penn's revenue or size. Instead, the acquisition was primarily intended to advance Penn’s technological capabilities. Wyatt suggested that a more digitally experienced leadership might have achieved this goal more cost-effectively.

Furthermore, Wyatt noted that the promised "incremental $200 million+ medium-term adjusted EBITDA" from the acquisition has not materialized, and the leadership team from theScore has since left Penn.

Despite poor Q1 2024 results, including an 11.1% revenue drop in the Interactive division (which includes theScore Bet and ESPN Bet), Penn's CEO Jay Snowden defended the acquisition during a May 2 earnings call. He stated that theScore Bet is performing well in Ontario, holding a low double-digit market share in both online sports betting and online casino sectors. Snowden also announced plans to integrate theScore Bet's wagering functionalities into theScore’s sports media app, potentially extending this integration to ESPN Bet in the U.S.

However, amid broader disappointing results, the acquisition is under increased scrutiny.


Donerail Calls for Penn to Consider Selling

Wyatt criticized Penn’s performance in the online sports betting sector and suggested that the company consider a sale, arguing that its leadership has lost credibility. Over the past three years, Penn's shares have fallen by over 80%.

"After four years of effort, attention, and billions of dollars of shareholder capital invested, the company has been unable to disrupt the online sports betting landscape as forecasted," Wyatt stated.

Wyatt also questioned Penn’s $2.7 million CAD ESPN Bet venture, which posted an adjusted EBITDA loss of $196 million USD ($268 million CAD) in Q1 2024. Penn projects a $500 million USD ($682 million CAD) loss for its Interactive segment, which includes iGaming, in 2024.

"The pattern of missed guidance, coupled with continued investment in fledgling Interactive projects without a clear return framework, has significantly damaged the credibility of Penn's management team and Board of Directors," Wyatt added.

Wyatt urged the Board to objectively assess the past four years, consider the shareholder capital lost, and recognize that shareholders might be weary of ongoing investments in uncertain outcomes.

Following Wyatt’s letter, Penn’s shares rose by more than 15% on Friday, May 31. Wyatt claimed that a potential sale of Penn could be worth up to $6.9 billion USD ($9.4 billion CAD), compared to Penn’s current enterprise value of roughly $4.1 billion USD ($5.6 billion CAD).

Author photo
MarkPatterson
3
959 views
Casino complaints Help with casino payout issues
Casino complaints
Casino complaints Is casino not paying out winnings? Write a complaint and we will try to help with the payment. Help with casino payout issues
Most popular
What's wrong with an online casino licensed by Igaming Ontario?
What's wrong with an online casino licensed by Igaming Ontario?
36
Big wins this week 2024.04.22-2024.04.29
Big wins this week 2024.04.22-2024.04.29
34
Fake internet messiah Stevewilldoit
Fake internet messiah Stevewilldoit
27
Review of New Slots Released This Week 2024.04.23-2024.04.30
Review of New Slots Released This Week 2024.04.23-2024.04.30
26
The fake streamer Trainwrecks - creator of the largest streaming platform Kick
The fake streamer Trainwrecks - creator of the largest streaming platform Kick
26
Review of New Slots Released This Week: 2024.05.13-2024.05.20
Review of New Slots Released This Week: 2024.05.13-2024.05.20
24
Light & Wonder's Second Wizard of Oz Slot Becomes BetMGM Exclusive
02 July 2025
News
5
Light & Wonder's Second Wizard of Oz Slot Becomes BetMGM Exclusive
Best comment:

vikys Oh, The Wizard of Oz in slots is just something from childhood and with excitement together, a cool idea!

Reply
North Korean hack group BlueNoroff hacked Canadian iGaming service via fake Zoom
02 July 2025
News
5
North Korean hack group BlueNoroff hacked Canadian iGaming service via fake Zoom
Best comment:

adinos Horrible.

Reply
Bitcoin at $90k: Whales go all-in while altcoins lose ground
02 July 2025
Blogs
5
Bitcoin at $90k: Whales go all-in while altcoins lose ground
Best comment:

Wissx TO THE MOOON! I told everyone to buy for 60k! Now we are flying for 100, and by the end of the year it will be 200, as predicted by Scaramucci!

Reply
Weekly Big Winst 23 Jun – 01 Jul
01 July 2025
Big Wins
8
Weekly Big Winst 23 Jun – 01 Jul
Best comment:

Induct Just a cannon!

Reply
Guides Everything you need to know
Guides
The best online casino guides in one place. Read, explore, and ask to improve your gaming experience.
New Slots Spotlight: 23 Jun – 01 Jul
01 July 2025
News
9
New Slots Spotlight: 23 Jun – 01 Jul
Best comment:

detestyou Normal selection, thank you. At least something fresh, otherwise it's the same everywhere.

Reply
Deceptive Endorphina Demo Games: What the Player Needs to Know
30 June 2025
News
5
Deceptive Endorphina Demo Games: What the Player Needs to Know
Best comment:

Lepeha You spin the demo - it pours like from a cornucopia, bonus after bonus. You spend a hundred bucks - and they fly away in 5 minutes into the chimney. I always felt that I was some kind of thing. Thanks to the author for the article, opened my eyes.

Reply
New Zealand Legalizes Online Casinos: Market Launch Scheduled for 2026
30 June 2025
News
6
New Zealand Legalizes Online Casinos: Market Launch Scheduled for 2026
Best comment:

strank Oh, finally! It was high time to legalize, otherwise how much can you play through gray schemes.

Reply
Arizona Imposes $50,000 Daily Ceiling on Lottery Ticket Purchases
30 June 2025
News
5
Arizona Imposes $50,000 Daily Ceiling on Lottery Ticket Purchases
Best comment:

EliteMik 50 k per day?! I wouldn't spend that much in a year

Reply
Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!
30 June 2025
Blogs
4
Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!
Best comment:

Turkian I love cascading slots, and then there are also jackpots! It is played very cheerfully, cascades on almost every spin. So far, I haven't reached the bonus game, but the potential is felt.

Reply
Casino complaints Help with casino payout issues
Casino complaints
Casino complaints Is casino not paying out winnings? Write a complaint and we will try to help with the payment. Help with casino payout issues
Your Complete Guide to Payment Methods for Gambling in Canada (2025)
30 June 2025
Blogs
13
Your Complete Guide to Payment Methods for Gambling in Canada (2025)
Best comment:

Gygoo I'm sick of explaining to my friends why their RBC or TD are constantly blocking deposits. I've been on MuchBetter for three years now – no problems at all.

Reply
One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes
30 June 2025
Blogs
10
One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes
Best comment:

D4ily Damn, it's a shame that even in the casino now you have to double-check everything... It used to be easier, now there are catches everywhere.

Reply
A New Era of Gambling: Why Casual Games Are the Future of Online Casinos
30 June 2025
Blogs
11
A New Era of Gambling: Why Casual Games Are the Future of Online Casinos
Best comment:

tickscollar All this bullshit was invented to squeeze out the last money. It used to be easier - bet on red, win or lose. And now some chickens are running, airplanes are flying... Circus.

Reply
Drake lost $6 million in a month: curse, clever marketing or a new era of gambling?
30 June 2025
Blogs
13
Drake lost $6 million in a month: curse, clever marketing or a new era of gambling?
Best comment:

xSuiZ The article is fire! Everything was laid out according to the facts. Drake is not a ludomaniac, he is a walking advertisement. And while the suckers believe in his "curse", Stake rakes in the money. Beautiful, you can't say anything. I've been riding a steak myself for a year now, I threw in crypto and generally don't give a about all the blocking.

Reply
Nolimit City: From slots about mental hospitals to "Provider of the Year"
30 June 2025
Blogs
11
Nolimit City: From slots about mental hospitals to "Provider of the Year"
Best comment:

Leoak Finally a good article on NC! I've been playing them since the very beginning, since the first Deadwood. Yes, their dispersion is crazy, you can lose a deposit in 100 spins. But when he pours ... It's worth it. In Mental x15k I caught, I still remember this spin. The whole point is in their x-mechanics, they really change the game, and not just for show.

Reply
TOP 10 Casinos The best of the best.
TOP 10 Casinos
Top 10 online casinos according to the creator of the project CasinosInCanada.com.
Rise of the Machines in iGaming: Will AI Chatbots Replace Live Support?
30 June 2025
Blogs
11
Rise of the Machines in iGaming: Will AI Chatbots Replace Live Support?
Best comment:

tealblossom 2 minutes to respond? Yes, this is a dream! Otherwise, while you wait for these operators, you will already want to play. It's high time!

Reply
3 comments
CharlesThomas
CharlesThomas

Wyatt's letter brings up some critical points about Penn's recent strategic decisions. The significant drop in share value over the past three years is alarming and suggests deeper issues within the company's management and investment choices. Penn needs to reassess its approach to the online sports betting market and consider whether continuing down this path is in the best interest of its shareholders. The suggestion to sell could be the wake-up call the company needs to realign its strategy and restore investor confidence.

06 June 2024
0
JeffTheJoyful
JeffTheJoyful

I've been a fan of theScore for years and was initially excited about Penn's acquisition. However, it's clear now that the integration hasn't gone as planned. While the app is great and has a solid user base in Ontario, it's troubling to hear about the financial losses and leadership issues. Hopefully, Penn can turn things around and leverage theScore's potential more effectively, but Wyatt’s points certainly highlight some serious strategic missteps.

06 June 2024
0
turnerDonald
turnerDonald

As someone who follows Penn Entertainment closely, Wyatt's concerns are very valid. The acquisition of theScore seemed promising at first, but the lack of tangible returns is disappointing. Penn's focus should perhaps shift towards stabilizing and optimizing their existing assets rather than continuing to invest heavily in uncertain ventures. It will be interesting to see how the company responds to this criticism and if they consider Wyatt's suggestion of a potential sale.

06 June 2024
0
Last Activities

WinSpirit

new casino rate
1 min ago
spencenaomi125

spencenaomi125 4.0

WinSpirit

new casino rate
1 min ago
jz.gmale85

jz.gmale85 4.0

Rolling Slots

new casino rate
1 hours ago
bennielessenberry

bennielessenberry 5.0

New Slots Spotlight: 23 Jun – 01 Jul

new comment
1 hours ago
xYoloStrafe

xYoloStrafe I wasted all my salary on The Luxe. Beautiful, of ...

Your Complete Guide to Payment Methods for Gambling in Canada (2025)

new comment
1 hours ago
ofavionik

ofavionik Some kaziks still accept e-Transfer, you just need...

  • Content
  • Casinos
  • Games
  • Community
  • Blacklisted
  • Bonuses
  • Land-Based
SIGN UP FOR +100 NO
DEPOSIT SPINS!

This offer is not applicable to residents of Great Britain.
By subscribing you are certifying that you have reviewed and
accepted our updated Privacy and Cookie Policy

  • Privacy Policy
  • Cookie Policy
  • Terms And Conditions
  • Responsible Gaming
18+
Trustpilot
  • YouTube
  • YouTube 2
  • X
  • Rumble
  • Facebook
  • Instagram
  • Telegram
  • mike@casinosincanada.com

© 2018-2025 CasinosInCanada.com

CasinosInCanada.com allows the use of materials only in case of re-prints and if correctly referenced. 

Home Bonuses Complaints Casinos Search
Log in
Register via
Google
Or
Sign Up
Register via
Google

We have sent you a confirmation code to your email

e-mail confirmation

To complete your registration, click the link in the e-mail we sent to your e-mail address

Cannot find an e‑mail?
Check Spam folder

The link will expire in 72 hours.

Remind password
login
Paste Youtube video link
Error!
Thank you!

We will answer you in a short time

Top Casinos
Casino Ratings (1109)
RocketPlay
Trusted
RocketPlay
Play now
WinSpirit
Trusted
WinSpirit
Play now
National Casino
Trusted
National Casino
Play now
Top Content
All Content
Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!

Slot of the Week: Le King Review – Elvis Raccoon and Neon Vegas Jackpots!

Your Complete Guide to Payment Methods for Gambling in Canada (2025)

Your Complete Guide to Payment Methods for Gambling in Canada (2025)

One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes

One-Way Game: How CryptoBoss, Unlim, Honey Money, and Auf Casino Steal Our Winning Odds Behind the Scenes

Get $5 to your account, 1000+ free spins and 20% VIP Cashback
Register Now
Top Slots
Slots (2070)
Legacy of Dead
RTP 78-96.58%
Legacy of Dead
By Play’n GO
Immortal Romance 2
RTP 96.30%
Immortal Romance 2
By Stormcraft Studios
Ramses Book
RTP 96.15%
Ramses Book
By Gamomat
Pink Elephants
RTP 90-96.1%
Pink Elephants
By Thunderkick
Best Bonuses
All Bonuses
WooCasino
Welcome Package up to 300 CAD + 200 FS
Get
Playamo
Welcome Package up to 1500 CAD + 150 FS
Get
BetChan
11% real money weekly cashback
Get