FuboTV, a sports-first live TV streaming platform, has secured market access in New Jersey for its future online fubo Sportsbook through Caesars Entertainment.
The access deal with Caesars, announced Wednesday, also gives fuboTV access to Indiana, according to a news release. The sportsbook could be live in three states at launch, after its previously announced market access agreement in Iowa through Casino Queen.
Pending regulatory approvals in New Jersey and the other states, the company expects to launch fubo Sportsbook in the fourth quarter of 2021, according to David Gandler, co-founder and chief executive officer of fuboTV.
That seems to be an optimistic timeline to launch sports betting in three states, but the company seems committed to going live by then.
“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,” Gandler said in the release.
FuboTV Earnings Report
On Tuesday, fuboTV announced it closed its strongest fourth quarter — and year — in its history, topping $100 million in quarterly revenue for the first time ($105.1 million). FuboTV ended 2020 with 547,880 paid subscribers, including 92,800 net subscribers added in the fourth quarter.
The company also reported that it lost $2.47 a share on sales of $105.1 million in the December quarter, worse than analysts expected.
“Our goal for 2021 and beyond is to develop fuboTV into a new kind of media company that combines both innovative streaming video and sports wagering,” Edgar Bronfman Jr., executive chairman of fuboTV, said in the earnings news release. “We intend to deliver leading sports, news and entertainment content to a growing subscriber base that transcends the industry's current virtual MVPD model, and are excited about our ability to capitalize on the future market opportunity."
FuboTV (NYSE: FUBO) offers subscribers access to tens of thousands of live sporting events annually as well as leading news and entertainment content.