Yes, they is in the scrabble dictionary

...and is worth 8 points by itself.

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They Definition

pronoun

Used to refer to people in general as seen in a position of authority.
from The American Heritage Dictionary of the English Language, 4th Edition
Used to refer to people in general.
from The American Heritage Dictionary of the English Language, 4th Edition
Used to refer to the ones previously mentioned or implied.
from The American Heritage Dictionary of the English Language, 4th Edition

pronoun, plural in construction

Those ones .
from Free Scrabble Dictionary

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Top Words by points

Points

hyte

10

2 letter words with THEY

Points

eh

5

et

2

he

5

te

2

ye

5

3 letter words with THEY

Points

eth

6

het

6

hey

9

the

6

thy

9

tye

6

yeh

9

yet

6

4 letter words with THEY

Points

hyte

10

they

10

Found 15 words in 0.13282 seconds