Mobile sports platform developer theScore has confirmed that it will hold a special meeting of shareholders to seek approval of certain corporate changes relating to the planned launch of its US sportsbook. In addition, the company said it intends to change its corporate identity from theScore to Score Media and Gaming to better reflect its integrated approach to mobile sports media and gaming.
As previously announced by the firm, its mobile sports betting applications in New Jersey have been scheduled for launch this year, dependent on receipt of all required approvals and licenses from the New Jersey Division of Gaming Enforcement (DGE) and the New Jersey Racing Commission (NJRC).
The special meeting is expected to be held on or about August 22, 2019. Additional details regarding the special meeting and the proposed resolutions will be included in a management information circular to be sent to shareholders in the coming weeks. The management information circular will also be filed with the applicable Canadian securities regulators and will be available on SEDAR at www.sedar.com.
To operate a US sportsbook the company must comply with applicable US federal, state and tribal gaming laws, compacts, regulations, rules and ordinances as well as obtain approvals and gaming licenses from applicable gaming authorities and gaming regulatory bodies.
It noted in a statement: “In order to facilitate the company’s compliance with such gaming laws and license requirements, the board of directors of the company believes it is necessary to introduce certain restrictions on the issue, transfer and ownership of its securities, and to continue the company’s corporate existence under the laws of British Columbia to enable it to implement these changes.”