PENN's theScore Bet Wins Alberta iGaming Market Approval

PENN Entertainment has received regulatory approval to enter Alberta's iGaming market, adding a sixth province to its growing North American footprint. The Alberta Gaming, Liquor and Cannabis (AGLC) confirmed PENN as a registered operator, clearing theScore Bet to launch its mobile sports betting and online casino platform when Alberta opens its regulated iGaming market on July 13. PENN is one of the first commercial operators approved, alongside DraftKings. Alberta will become the sixth market where PENN offers both online sports betting and iCasino products.

PENN Bets C$27M on theScore Bet's Alberta Launch

PENN is committing significant resources to its Alberta launch. Chief Technology Officer Aaron LaBerge told investors on an April 23 earnings call, "We have a full-scale marketing plan that we're building towards that's going to start in July. We're already in the market with pre-registration. We're going to be active from a brand and performance marketing perspective."

CEO Jay Snowden has indicated that marketing dollars saved from winding down the US-facing ESPN Bet brand will be reinvested in Canada. PENN is budgeting for a C$27 million loss in 2026, tied directly to the Alberta launch. PENN plans to leverage its exclusive Toronto Blue Jays partnership through branded casino games like Blue Jays Blackjack.

How theScore Bet Plans to Win Alberta's 30-Operator Race

Alberta's market is expected to be more competitive than Ontario's launch in 2022. Over 30 operators have applied to enter the province, according to provincial iGaming Minister Dale Nally. LaBerge acknowledged the challenge, saying, "When we launched in Ontario, it was a lot less competitive. There are a lot more applicants and people in market for Alberta."

PENN remains confident in theScore's brand strength. "Obviously, theScore brand in Canada is very strong. It's the number one media sports brand in market," LaBerge said. In April, PENN secured an officially licensed sportsbook designation from MLB Players Inc. for theScore Bet in Canada, allowing use of player names and likenesses in marketing.

Canada's 20% Tax Rate Makes It PENN's Most Valuable Market

PENN's Q1 2026 earnings showed an EPS of $0.11, beating analyst forecasts of $0.05 by 120%. Revenue of $1.4 billion, however, missed the $1.75 billion forecast. Ontario remains a core revenue driver, posting year-over-year growth in active users, sports betting, and iGaming revenue.

With theScore already Canada's top sports media brand and Ontario proving the model works, PENN is entering Alberta with more than just money. It is entering with momentum.

Snowden was direct about Canada's strategic importance: "Canada is going to be our strongest-margin market in North America. Part of that's driven by volume and market share, and part of that's driven by [20%] tax rates." PENN expects to replicate its Ontario market share success in Alberta.