Sports media provider, theScore (TSXV: SCR.V) reported its 2nd quarter results on Wednesday. Investors have grown more optimistic about the company since it announced last year that it plans to launch a sports betting platform in New Jersey. The share price, which has gained as much as 72% since January, fell 5% on low volumes.\r\n\r\nRevenue for the quarter fell to $6.8 million, from $7.1 million a year earlier. The operating loss widened to C$2.98 million from C$1.5 million and translated to a loss of C$0.01 per share. These results were slightly lower than expected.\r\n\r\nLower revenue for the quarter was attributed to slower direct sales following a strong first quarter. While quarterly revenue fell over 12 months, revenue for the 6-month period was higher than it was the previous year.\r\n\r\n \r\nAll Eyes on U.S. Sports Betting Market\r\n\r\n\r\ntheScore aggregates and distributes sports content on a variety of platforms. It has a strong following in the U.S. that it hopes to monetize with a new sports betting platform, Sportsbook, which is on track to be launched later this year. The platform was made possible by a licensing partnership with Darby Development LLC (Darby), the operator of the Monmouth Park Racetrack and the New Jersey Thoroughbred Horsemen\u2019s Association.\r\n\r\nThe company went public in 2015, with the aim of capitalizing on the growing popularity of fantasy sports and esports. After initially growing revenues rapidly, sales growth has slowed in the last few years. The company has yet to turn a profit, but has managed to reduce expenses, and managed to bring its operating loss down from C$16 million in 2016 to C$6 million in 2018. The share price which reached a high of C$0.77 in 2015, drifted to a low of C$0.13 early last year.\r\n\r\n \r\nThe Latest Gold Rush?\r\nIn 2018 the U.S. Supreme Court ruled that states could legalize sports betting if they choose. Several states have already legalized it, and more are in the process of doing so. This has prompted a wave of new sports betting platforms and apps, theScore among them.\r\n\r\ntheScore has one of the most popular sports apps in North America, and if it can leverage its audience with its gambling platform, it may be well positioned.\r\n\r\nGiven that this company has yet to make a profit and is pivoting into a new market, it has to be regarded as a speculative stock. However, if its new venture is successful, it would surely be worth considerably more than C$118 million.\r\n\r\nThe company has a strong cash balance but may need to raise more capital if it is going to expand across the U.S. and build a defendable footprint. If or when a capital raise happens it may offer investors an opportunity.