PENN Tightens Belt: theScore Hit with Major Layoffs
PENN Entertainment laid off over 75 employees at theScore, its Canadian sports media and gaming outfit. The cuts, announced last Thursday, slashed roughly half the newsroom and took a toll on the sales team.
A Rough Day for theScore
This isn’t the first round of cuts for PENN’s Interactive division. Similar layoffs hit in July and September 2024, affecting roles tied to ESPN Bet in the U.S.
A PENN spokesperson told Canadian Gaming Business the layoffs are part of “the ongoing evolution of our digital business,” with recent hires in product and tech leading the charge.
The newsroom took the biggest hit, with about half its staff sent packing. The sales team wasn’t spared either, though exact numbers there are less clear. TheScore, known for its sports coverage, is seeing its editorial muscle shrink as PENN reshuffles its priorities.
These layoffs follow a pattern. PENN’s Interactive division, which includes theScore and ESPN Bet, has been under pressure to streamline. The company’s leaning hard into its betting operations, like theScore Bet in Ontario, and the cuts suggest a tighter focus on tech and product roles over content creation.
The Bigger Picture
PENN’s been on a restructuring tear, with theScore’s layoffs marking the latest chapter. The company’s digital arm has faced scrutiny from HG Vora and Donerail Group, who’ve called out PENN’s spending on acquisitions like theScore, bought for $2 billion in 2021.
Despite theScore Bet’s 5% market share in Ontario’s iGaming scene, the broader Interactive division is bleeding cash, with losses nearing $500 million in 2024.
The layoffs are a direct response to this pressure, aiming to cut costs and realign the business. For theScore’s staff, it’s a tough blow, especially for those who’ve built the brand’s reputation.
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