fuboTV agrees sportsbook market access deal with Caesars4th March 2021 10:18 am GMT
Sports-focused live streaming platform fuboTV has agreed a deal with Caesars Entertainment to launch its upcoming sportsbook in two US states.
The market access agreement with Caesars will enable fubo to offer its fubo sportsbook to players in Indiana and New Jersey, subject to regulatory approval in each jurisdiction.
The company expects to launch its sports betting offering in the fourth quarter of this year following its acquisition of Vigtory and has previously agreed a market access deal with Casino Queen in Iowa.
“We could not be more excited to bring fubo Sportsbook to market in the fourth quarter, and today’s market access licenses for Indiana and New Jersey will help us reach even more consumers at launch,” said David Gandler, co-founder and CEO of fuboTV.
fuboTV generated revenue of $268.8m in 2020 from its 500,000+ subscribers, representing revenue growth of 83 per cent year-on-year, with subscription revenue accounting for 86 per cent of the total. Net loss for the year amounted to $570.5m.
Shares in fuboTV (NYS:FUBO) closed 18.5 per cent lower at 34.14 per share in New York Wednesday following the release of its financial results.