Penn National Gaming and Canada-based Score Media & Gaming have entered into a definitive agreement whereby Penn National will acquire theScore for approximately US$2B in cash and stock. The transaction has been unanimously approved by the BODs of both companies and is currently expected to close in Q1 '22. Upon completion of the transaction, current Penn National and theScore shareholders will hold approximately 93% and 7% respectively, of the Penn's outstanding shares. Penn National expects to fund the roughly $1B cash portion of the deal using existing cash on its balance sheet. In a release, Penn cited theScore's integrated media-betting-tech approach and the reach of its app (Penn National Gaming).