Former Penn National Gaming, Inc. Executive Carl Sottosanti Appointed to Fubo Gaming’s Board of Directors

Rhea-AI Summary

Fubo Gaming has appointed Carl Sottosanti, a former executive at Penn National Gaming, to its board of directors and as chairman of its gaming compliance committee. This move is aimed at strengthening Fubo's leadership as it prepares to launch Fubo Sportsbook, an online sports betting platform, in Q4 2021, pending regulatory approvals. Sottosanti brings nearly 18 years of experience in the gaming industry, focusing on significant transactions and compliance. His expertise is expected to enhance Fubo's interactive gaming strategy.

Positive

• Appointment of Carl Sottosanti enhances leadership with extensive gaming experience.
• Sottosanti's expertise in compliance and transaction law could bolster Fubo's market positioning.
• Fubo Sportsbook launch expected in Q4 2021 may capitalize on growing online sports betting demand.

Negative

• Launch of Fubo Sportsbook is contingent upon obtaining necessary regulatory approvals, which could delay operations.
• Potential experience gaps in Fubo Gaming's leadership before Sottosanti's appointment may impact strategic decisions.

Fubo Gaming, a subsidiary of leading sports-first live TV streaming platform fuboTV Inc. (NYSE: FUBO), has appointed former Penn National Gaming, Inc. executive Carl Sottosanti to its board of directors and as chairman of its gaming compliance committee effective immediately.

Sottosanti joins Fubo Gaming as it prepares to launch Fubo Sportsbook, a comprehensive sports entertainment experience through online sports betting, in the fourth quarter of 2021, subject to obtaining requisite regulatory approvals.

“With extensive experience in the gaming industry, including almost 18 years as an executive at Penn National, Carl will bring valuable industry and unique legal and compliance insight to Fubo Gaming,” said David Gandler, co-founder and CEO, fuboTV. “I’m looking forward to working with Carl as we set to transform streaming and betting into a combined interactive television experience.”

“I am excited to join Fubo Gaming’s board of directors,” said Sottosanti. “Their talented team and unique content and technology will be a potent combination in the growing interactive wagering space.”

From 2014-2020, Sottosanti served as executive vice president and general counsel of Penn National, a leading gaming company with 42 gaming facilities in 20 jurisdictions and a growing online gaming/media business. He joined Penn in May 2003 and focused primarily on M & A, gaming development opportunities, corporate governance and compliance. Among the many large transactions Sottosanti led from the legal side at Penn National were its recent Barstool Sports and Pinnacle Entertainment acquisitions.

Prior to joining Penn National, Sottosanti held senior legal roles at Sanchez Computer Associates, a leading international banking software company, and Salient Three Communication, a diversified telecom company. He began his career with Schnader Harrison, a large Philadelphia law firm, and also has extensive teaching and lecturing experience on gaming and business law topics. Sottosanti received his JD from Villanova University School of Law.

About Fubo Gaming

Fubo Gaming Inc. is a subsidiary of fuboTV Inc. (NYSE: FUBO) that launched in 2021. Complementing fuboTV’s leading sports streaming platform, Fubo Gaming aims to provide a comprehensive sports entertainment experience through sports betting and interactive gaming. The online wagering experience, Fubo Sportsbook, is expected to launch in Q4 2021, subject to obtaining requisite regulatory approvals. Fubo Gaming is based in Chicago.

About fuboTV

With a mission to provide the world’s most thrilling sports-first live TV experience through the greatest breadth of premium content, interactivity and integrated wagering, fuboTV Inc. (NYSE: FUBO) is focused on bringing to life its vision of a streaming platform that transcends the industry’s current virtual MVPD model. fuboTV Inc. operates in the U.S., Canada and Spain.

Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, fuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive television. Through its cable TV replacement product, fuboTV, subscribers can stream a broad mix of 100+ live TV channels, including 42 of the top 50 Nielsen-ranked networks across sports, news and entertainment — more than any other live TV streaming platform (source: Nielsen Total Viewers, 2020). fuboTV intends to add interactivity to its streaming experience with the launch of predictive free-to-play gaming in Q3 2021.

Fubo Gaming Inc., a subsidiary of fuboTV Inc., expects to launch Fubo Sportsbook, a comprehensive sports entertainment experience through sports betting, in Q4 2021, subject to obtaining requisite regulatory approvals.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on the current beliefs, expectations and assumptions of fuboTV and on information currently available to fuboTV. The forward-looking statements in this press release represent fuboTV’s views as of the date of this press release. These statements may include, but are not limited to, statements regarding future events or future financial and operating performance, including revenue and subscriber guidance and efforts to implement sports wagering into our product. Although fuboTV believes the expectations reflected in such forward-looking statements are reasonable, fuboTV can give no assurance that such expectations will prove to be correct. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause fuboTV’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable law, fuboTV does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Important factors that could cause fuboTV’s actual results to differ materially are detailed from time to time in the reports fuboTV files with the Securities and Exchange Commission, copies of which are available on the Securities and Exchange Commission’s website at www.sec.gov and are available from fuboTV without charge. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616005135/en/

FAQ

What is the significance of Carl Sottosanti's appointment to Fubo Gaming's board?

Carl Sottosanti's appointment is significant as he brings nearly 18 years of gaming industry experience, particularly in compliance and high-stakes transactions, which could strengthen Fubo Gaming's leadership and strategic direction.

When is Fubo Sportsbook expected to launch?

Fubo Sportsbook is expected to launch in Q4 2021, subject to obtaining the necessary regulatory approvals.

What role will Sottosanti serve at Fubo Gaming?

Carl Sottosanti will serve as a board member and chairman of the gaming compliance committee at Fubo Gaming.

How might Sottosanti's background impact Fubo Gaming?

Sottosanti's extensive background in gaming law and compliance may provide valuable insights and strategies for Fubo Gaming, enhancing its operations in the competitive sports betting market.