PENN Entertainment cuts over 75 jobs at theScore

PENN Entertainment has cut more than 75 jobs at Canadian sports media and betting brand theScore, slashing its newsroom by about half and reducing its sales team.

The layoffs were announced Thursday and are part of a broader restructuring of PENN’s digital operations, Canadian Gaming Business reported.

“These changes reflect the ongoing evolution of our digital business,” a company spokesperson told the news outlet. “Under the leadership of key recent product and technology hires, we are structured to advance our online strategy and efficiently grow our business.”

The recent layoffs mark the latest round of cuts within PENN’s Interactive division. In July 2024, the company laid off staff across its digital operations, including positions tied to ESPN Bet in the U.S., followed by additional cuts in September.

The move comes amid mounting investor pressure and questions over PENN’s digital roadmap, particularly regarding its U.S. sportsbook strategy. Activist investor groups, including Donerail Group and HG Vora, have publicly criticized PENN’s acquisitions and digital spending.

Donerail managing director William Wyatt last year described PENN’s interactive strategy as “misguided” and urged a sale of some digital assets. HG Vora echoed those concerns in 2025, accusing PENN executives of “value-destructive deal-making” and citing both ESPN Bet and theScore as underperforming assets.

Despite the criticism, PENN executives continue to defend theScore’s performance in Canada. CEO Jay Snowden previously described Ontario as PENN Interactive’s top market in North America, citing its leadership in revenue, gross profit, and contribution margin.

PENN Entertainment’s 2021 acquisition of Canadian media and betting platform theScore for US$2 billion is seemingly now showing signs of payoff. In 2024, theScore Bet and Casino posted a 22% year-over-year revenue increase and a 36% jump in adjusted gross profit, according to PENN’s latest financials.

TheScore now holds a 5% share of Ontario’s online gaming market, based on data from H2 Gambling Capital. iGaming Ontario reported the province’s iGaming sector (excluding Ontario Lottery and Gaming Corp.) generated CA$3.2 billion ($2.3 billion) in gross gaming revenue for the 2024/25 fiscal year.

Still, past acquisitions have drawn criticism. PENN completed its US$551 million takeover of Barstool Sports in 2023—after first investing in 2020—only to sell it back to founder Dave Portnoy for $1 later that year.

PENN then struck a US$2 billion partnership with ESPN to launch ESPN BET. Either party can exit the 10-year deal in 2026. In March, theScore founder John Levy described the Barstool acquisition as a “fiasco,” openly criticizing PENN’s handling of the deal.