FuboTV made more progress in its quest to launch a sports book app by the end of 2021, announcing Wednesday that it has secured market access agreements with Indiana and New Jersey for the upcoming fubo Sportsbook through Caesars Entertainment Inc.
With a market access agreement for Iowa already secured through Casino Queen, fuboTV's new wagering enterprise has secured three of the 20 U.S. states that have legalized sports betting.
“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, fuboTV, in a statement.
FuboTV initiated its quest to become the first pay TV operator with a sports book app with its December acquisition of Balto Sports, and later the purchase of Vigtory Sportsbook in January.
The streaming company announced a mostly boffo fourth quarter on Tuesday, touting 73% year-over-year subscriber growth to 548,000, and 98% Q4 revenue growth to $105.1 million. It’s $167.1 million quarterly loss, however, probably dictates the need to get more revenue sources up and running real soon, beyond the core low-margin virtual MVPD platform.
Competition is coming. Also on Wednesday, Dish Network announced a deal with DraftKings to bring sports book and fantasy league services to Dish Network customers.
