PENN Entertainment, the parent company of theScore Bet, announced that the Levy family, founders of theScore, are set to step down from their roles in the company. John Levy will depart in mid-February, followed by Benjie, Aubrey, and Noah Levy, who are set to leave in April. The transition comes after the successful integration of theScore’s technology, the launch of ESPN BET, and the recruitment of a new Head of Technology.
John Levy founded theScore in the mid-1990s and was instrumental in its journey from a sports broadcaster to a major digital sports media and betting entity. Levy’s approach focused on leveraging theScore’s substantial user base and providing comprehensive sports and betting experiences within one app. This strategy differentiated theScore in the competitive betting market, aiming for long-term success through a steady, focused approach.
“We’re a sports media company first. So it’s not just about the betting. We’re not out there doing the big, splashy deals that everyone else is doing like the other big media companies are doing,” Levy said when the company launched its Colorado sportsbook in September 2020.
Levy reiterated that philosophy in a statement discussing his departure.
“Empowering fans with a seamlessly integrated media and betting experience has been core to our mission since day one. That strategy has led to the success of theScore and theScore Bet in Ontario and ESPN BET in the US. It will continue to differentiate this online gaming business going forward. The enduring success of theScore is due to the passionate and committed team that helped launch, develop, and innovate our products to provide the best possible fan experience.”
The acquisition of theScore by PENN Entertainment in October 2021 for approximately U.S.$2.0 billion allowed PENN to integrate theScore’s proprietary technology into PENN’s sportsbook platform.
“TheScore has developed a state-of-the-art player account management system and is finalizing the development of an in-house managed risk and trading service platform,” said Jay Snowden, CEO and President of PENN Entertainment, to Forbes after completing the purchase.
The Levy family’s departure coincides with the completion of technology migration and the achievement of record business results. Snowden expressed pride in the accomplishments made alongside the Levys, highlighting the development of a deep and talented team at PENN Interactive.
“This transition plan comes at a natural inflection point, with the migration to our proprietary technology platform complete, theScore’s media and betting business delivering record results, and ESPN BET off to a strong start,” said Snowden.
Benjie Levy reflected on the rewarding experience at PENN, emphasizing the focus on creating industry-leading technology and fostering a world-class team.
“Working at PENN has been extremely rewarding, and we want to thank Jay, Todd George, and the entire PENN team for their partnership and support as we brought these two organizations together to execute our uniquely integrated media and betting strategy,” he said.