Penn Entertainment Announces Layoffs at theScore
Posted on: June 22, 2025, 08:31h.
Last updated on: June 23, 2025, 06:58h.
- 75-100 laid off at theScore in Toronto
- Penn says layoffs part of ongoing evolution of digital business
- Former employee: theScore “lost its heart”
Penn Entertainment has announced major layoffs in work staff at theScore in Toronto, as the company deals with a months-long proxy fight involving investors over the future direction of the company.
Between 75-100 People Reportedly Laid Off
Reporting pegged the number of people laid off at 75-100 – around half the newsroom.
Some of those who lost their jobs posted on X.
“It’s too bad theScore lost its heart a while back,” said one former employee.
Said another: “I was unfortunately let go as part of the layoffs at theScore this week. I’m deeply grateful for my 3.5 years at the company and am now looking for my next opportunity.”
Penn: Ongoing Evolution of Business
According to a Penn spokesperson, who sent this statement to Casino.org:
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.”
Penn acquired theScore in 2021 in a USD $2 billion deal, which included theScore Bet’s tech stack, and Penn CEO Jay Snowden has referred to theScore as a “very good story for us in Canada”.
According to financials released by Penn, theScore BET and Casino saw growth across several key metrics in 2024, led by a 22% year-over-year increase in revenues, and 36% increase in adjusted gross profit. According to H2 Gambling Capital, theScore has a 5% market share in Ontario. The market generated CAD $3.2 billion in gross gaming revenue for fiscal year 2024/25 (not including crown corporation Ontario Lottery and Gaming Corporation’s financial results), according to iGaming Ontario.
5% Market Share in Ontario
Penn acquired Barstool Sports in a USD $551 million deal in, an acquisition that initially started in 2020, and was completed in 2023. The company sold Barstool back to founder Dave Portnoy for $1 later that year, before Penn announced a USD $2 billion deal with ESPN to create ESPN BET. Penn or ESPN can exit their 10-year deal in 2026 if they choose.
John Levy, founder of theScore and theScoreBet, was critical of PENN’s ownership with comments made in March, calling the Barstool deal a “fiasco”.
Last Comments ( 2 )
3rd layoff of the interactive division in less than a year. July 2024, Fall 2024, and this one. I think equals close to 300- 400 corporate employees
Very poor business executives ! The little people get hurt once again!