theScore To House Operations In Downtown Toronto Complex

theScore To House Operations In Downtown Toronto Complex
© PA

Canada's theScore is continuing to make moves.

Toronto-based Score Media and Gaming, along with Menkes Developments and BentallGreenOak announced Thursday that they have entered into an agreement for theScore to lease an 80,000-square-foot space in the Waterfront Innovation Centre, an office and retail development property in downtown Toronto.

Score Media and Gaming a Canadian Company

Since 1997, theScore has been in Toronto. The new space will house its business operations, including the rollout of Canadian sports betting.

Single-event sports betting is set to go live in Canada on Aug. 27. Up to now, only parlay betting has been legal in the country.

"As our technology-driven business has grown across North America so too has theScore family, particularly in product development and engineering, with new team members joining every week," theScore Chairman and CEO John Levy said in a news release. "We are committed to supporting our strong Toronto roots, continuing to grow our operations and workforce, and are thrilled to do so in a new, state-of-the-art waterfront office space.”

“Moving into this newly constructed building affords us the opportunity to design our ideal work environment and provides ample space for our rapidly expanding team. The Waterfront is fast becoming a hub for some of Ontario’s most innovative and forward-thinking companies, and we are excited that it will be our home for many years to come.”

The Company will occupy more than 85% of The Exchange, one of two buildings that make up the state-of-the-art complex.

“Ontario's deep talent pool, cutting edge innovation ecosystem, and competitive business costs make our province an ideal place for businesses to invest and grow,” said Vic Fedeli, Ontario's Minister of Economic Development, Job Creation, and Trade. “Leaders in Ontario’s tech and entertainment sector like theScore will be at the forefront of our economic growth and recovery as we proceed out of the pandemic. We congratulate theScore on their expansion in Toronto and for their continued support of homegrown tech talent.”

The 475,000-square-foot Waterfront Innovation Centre is comprised of two buildings, with three distinct but interconnected components: The Exchange, The Hive, and The Nexus, a space that will serve as a public square and directly connect the two buildings.

The complex, co-owned by Menkes and BentallGreenOak, on behalf of Sun Life Assurance Company of Canada, was developed in partnership with Waterfront Toronto neighbor Sugar Beach on Toronto's eastern waterfront.

The building’s office space is about 91% pre-leased.

Penn National Deal with theScore

On Aug. 5, Penn National Gaming announced it was buying theScore for about $2 billion in cash and stock.

Penn National intends to operate theScore as a stand-alone business.

Several operators are ready to join Penn National in the Canadian market after it goes live, including DraftKings Sportsbook, PointsBet, BetMGM, FanDuel.

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