In August Penn National Gaming acquired Toronto-based Score Media and Gaming, aka theScore, a leading digital media, sports betting and technology company, and the maker of Canada’s most popular sports app.
theScore CEO John Levy noted that the deal comes as the media and gaming company that he and his team have built eagerly awaits the upcoming rollout of commercial sports betting in Canada. Levy said he is excited to join forces with Penn to form the “most powerful media and gaming company in North America.”
The deal has had a knock-on impact on the Toronto office leasing market, with theScore announcing it will be moving from its current home at 500 King St. W. into larger premises at Menkes Developments’ Waterfront Innovation Centre (WIC) at 125 Queens Quay East.
CBRE’s Brendan Sullivan, Myah Ollek, Brian Porter and Byron Ahmet represented Menkes on the deal, and CBRE’s Bill Davis represented theScore, which will be taking floors 4-7 and 9-10 at WIC. Gilberts LLP, an intellectual property law firm, also moved from King Street to Waterfront Innovation Centre, joining MaRS and WPP there.
“These deals are giving validation to the story we’ve been telling for the last three years about the new Toronto waterfront,” says Sullivan. “Menkes had the foresight to foster the development of this innovation district, and now it’s all coming to fruition. These companies recognize the opportunity they have to impact and be part of this unique community on the waterfront, attaching their brands to it and driving its growth.”
With the WIC all but leased up (save for one 39,325 sq. ft. floor remaining), Menkes and CBRE are focusing on the neighbouring Sugar Wharf development, where there is 223,200 sq. ft. of office space currently available for lease at 100 Queens Quay East, a 25-storey tower.