SCR - Score Media rallies after Credit Suisse points to large market potential

Credit Suisse starts off coverage on Score Media and Gaming (SCR) with an Outperform rating.The firm says the bullish rating is based partially on SCR's leadership position in Canada."We think that the Canadian sports betting total addressable market could reach ~$4-7bn, and given SCR is one of the most well-known media brands in the country, we think it has the ability to capture 20%+ share in OSB and 5-10% share in iGaming, representing a potential $500-900m revenue opportunity."The company is expected to have lower customer acquisition costs than peers in Canada, with margins approaching 35%.  SCR is also noted to be part of the fast-growing OSB and iGaming market in the United States, and is expected to increase share leveraging the media app for low cost customers acquisition, strong retention, and an integrated betting/media experience which is not widely available. Shares of SCR are up 4.98% premarket.Earlier this month: Score Media gains

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Score Media rallies after Credit Suisse points to large market potential