Tag: Fubo Sportsbook

FuboTV to immediately shut down sportsbook

Streaming provider FuboTV has announced it is to close its Fubo Gaming subsidiary and cease operations of its owned-and-operated Fubo Sportsbook with immediate effect.

The decision was made following a strategic review of the business, which was launched in August after FuboTV said it could not operate its sports betting division alone in the current economic environment.

FuboTV said while multiple parties expressed interest in the betting business, the provider also said that none of these opportunities would have allowed FuboTV to “lower its funding requirements and generate sufficient returns to shareholders”.

As a result, FuboTV will close Fubo Gaming and cease all operations of the Fubo Sportsbook immediately.

“Following our previously announced strategic review, we have concluded that continuing with Fubo Gaming and Fubo Sportsbook in this challenging macroeconomic environment would impact our ability to reach our longer-term profitability goals,” FuboTV co-founder and chief ..

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Fubo Sportsbook goes live in New Jersey

Fubo Gaming has announced the full launch of its online Fubo Sportsbook brand in New Jersey following a soft play phase in line with the state’s Division of Gaming Enforcement regulatory process.

Players across New Jersey will be able to place pre-event and in-play bets on a wide range of sports and competitions, including out-of-state collegiate sporting events.

The online launch was made possible through an agreement with Caesars Entertainment, while Fubo Gaming already had a presence in the state via its agreement with NFL franchise the New York Jets.

Fubo Gaming in 2021 opened a new 7,000sq ft lounge at the Jets’ MetLife Stadium, which is located in New Jersey. Consumers at the facility will now be able to bet on Jets games via their mobile device.

The launch comes ahead of the new NFL season, which kicks off this weekend.

“Launching Fubo Sportsbook in New Jersey is an important early step in the development of our integrated platform, which includes a recently improved user e..

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FuboTV gaming business under strategic review with negative revenue

Streaming provider FuboTV will implement a strategic review of its betting arm, after determining that it could not operate the business alone in the current economic environment.

Fubo chief executive David Gandler said that the business was determined to ensure that its betting product – created when it acquired Vigtory – would be fully integrated with its streaming service. However, he said it could not achieve this by building its own technology.

As a result, it has initiated a strategic review of the wagering business.

“We continue to believe that an integrated wagering platform, offering both live video and a sportsbook, will result in the best viewing and gaming experience for consumers,” Gandler said. “However, as we have evaluated how best to scale these capabilities in today’s market, we have concluded that we will no longer pursue this opportunity on our own.

“Accordingly, our interactive wagering business is under strategic review. We are in internal and external discu..

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