Another major chapter has closed for theScore. What began as a scrappy Canadian sports TV channel eventually evolved into one of the country’s most recognizable digital sports brands, but that identity is now being reshaped once again.
Late last week, Penn Entertainment, which bought theScore in 2021 for $2 billion, laid off between 75 and 100 employees at the company’s Toronto office.
The Decision Reflects theScore’s “Ongoing Evolution”
That figure represents roughly half of the newsroom, gutting a digital journalism operation that had earned a strong reputation over the years for in-depth features across sports like baseball, hockey, and soccer.
Some of those affected shared their thoughts publicly. “I was unfortunately let go as part of the layoffs at theScore this week,” one former staffer posted on X.
“I’m deeply grateful for my 3.5 years at the company and am now looking for my next opportunity.” Another wrote simply, “It’s too bad theScore lost its heart a while back.”
According to a Penn spokesperson, the cuts are part of a broader restructuring effort, with the changes reflecting “the ongoing evolution” of their 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.”, the spokesperson added.
While Penn has seen financial gains, as theScore Bet and Casino posted a 22% year-over-year revenue boost in 2024, and now hold 5% of Ontario’s iGaming market, the layoffs come at a time of larger economic turbulence.
Canadian media companies are feeling pressure from weakened advertising markets, international trade tensions, and uncertainty in the sports betting space.
Corporate Realignment
The move also comes amid a longer arc of corporate realignment at Penn. The company previously acquired Barstool Sports in a $551 million deal completed in 2023, only to sell it back to founder Dave Portnoy for $1 months later, in order to pave the way for a $2 billion partnership with ESPN to launch ESPN BET.
Either Penn or ESPN can opt out of the 10-year deal as early as 2026. John Levy, who founded theScore and led it through its transition from cable to mobile, was blunt about his views on Penn’s leadership. Speaking in March, he described the Barstool acquisition as a “fiasco.”