Score Layoffs Spark Uncertainty for Canadian Media Workers
What is the reason for Score layoffs?
PENN Entertainment has reportedly laid off 75 employees at theScore, a well-known Canadian sports media and gaming brand. According to Canadian Business Gaming (CGB), the affected workers were informed last Thursday that their roles had been eliminated.
Why Were the Layoffs Made?
A company spokesperson told CGB that the changes are part of a broader digital shift, “These changes reflect the ongoing evolution of our digital business. Under the leadership of key recent product and technology hires, we are structured to advance our online strategy and efficiently grow our business.”
Who Was Impacted?
Several journalists confirmed their layoffs on X (formerly Twitter). Veteran writer and editor Anthony Lopopolo shared, “I’m exceptionally proud of the work I did for @theScore over the last decade… Unfortunately, I was part of Thursday’s mass layoff that upended one of Canada’s best sports brands.” Journalist Nick Faris added “I’m a free agent because of the job cuts at @theScore… I leave with immense pride in our team’s reporting and analysis.”
What’s Next for theScore?
The company appears to be pivoting away from sports news coverage and instead doubling down on digital gambling. theScore Casino recently launched in Ontario and is eyeing Alberta as the province prepares to open its regulated betting market.
Why Is PENN’s Acquisition Strategy Being Questioned?
PENN Entertainment acquired theScore in 2021 for approximately $2 billion, shortly after launching sports betting operations in New Jersey. TheScore Bet went live in Ontario in April 2022.
But the strategy hasn’t come without criticism. Shareholder HG Vora accused PENN of “value-destructive deal-making” and “poor execution” when it came to ventures like theScore and Barstool Sports.
PENN purchased Barstool Sports for $550 million but later sold it back to founder Dave Portnoy for just $1 in 2023 after failing to secure betting licences. The move signalled a major shift, with PENN instead investing in ESPN Bet, a deal that also cost the company $2 billion.
PENN’s interactive division, which includes ESPN Bet, theScore Bet, and Hollywood Casino, saw revenues climb from $719 million in 2023 to $960 million in 2024. However, operating losses also grew from $403 million to nearly $500 million over the same period.
Were You Impacted by the Score Layoffs?
If you have recently lost your job due to theScore’s corporate restructuring, you may be entitled to more than just the minimum severance.
In Ontario, non-unionized employees, especially those in media, tech, marketing, or corporate roles, may qualify for significantly more compensation than what is initially offered. Severance entitlements are based on several factors, including your age, length of service, position, and total compensation. In some cases, employees may be owed up to 24 months’ pay.
At Whitten & Lublin Employment Lawyers, we have helped professionals in media, and digital sectors secure fair severance. If you were affected by theScore or PENN layoffs, call us at (416) 640 2667 or connect with us online to schedule a consultation.