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Why Score Media and Gaming Stock Skyrocketed Today

·2 min read
Why Score Media and Gaming Stock Skyrocketed Today
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Shares of Score Media and Gaming (NASDAQ: SCR) soared on Thursday after the sports betting company said it agreed to be acquired by casino giant Penn National Gaming (NASDAQ: PENN). Shareholders are slated to receive $17 in cash and 0.2398 shares of Penn National stock for each share of theScore they own. "We are thrilled to be acquiring theScore, which is the number one sports app in Canada and the third most popular sports app in all of North America," Penn National CEO Jay Snowden said in a press release.