Fubo Gaming Receives Approval to Offer Online Sports Wagering From the Iowa Racing and Gaming Commission

Rhea-AI Summary

Fubo Gaming, a subsidiary of fuboTV (NYSE: FUBO), announced approval to offer online sports wagering in Iowa, in partnership with Casino Queen. The mobile sportsbook, Fubo Sportsbook, is set to launch in Q4 2021. This innovative platform integrates wagering with live streaming via the “Watching Now” feature, enhancing user experience by syncing bets with viewing preferences. Fubo Gaming also secured market access in Arizona, Pennsylvania, Indiana, and New Jersey. This move marks Fubo's entry into the mobile sports betting market, aimed at increasing user engagement.

Positive

• Approval for online sports wagering in Iowa boosts market entry.
• Launch of Fubo Sportsbook expected in Q4 2021.
• Innovative integration of live streaming and sports betting enhances user engagement.
• Market access secured in four additional states (Arizona, Pennsylvania, Indiana, New Jersey).

Negative

• None.

Company’s First Mobile Sportsbook on Track to Launch in Q4

CHICAGO--(BUSINESS WIRE)-- Fubo Gaming, a subsidiary of leading sports-first live TV streaming platform fuboTV Inc. (NYSE: FUBO), today announced that it has received approval from the Iowa Racing and Gaming Commission (IRGC) to offer advance deposit online sports wagering within the state of Iowa through a market access agreement with Casino Queen. It marks an important next step in launching its mobile sportsbook, Fubo Sportsbook, which remains on track to go live in the fourth quarter 2021.

Once launched, sports bettors in the Hawkeye state will enjoy a new, innovative mobile sportsbook that will enhance their wagering experience through the “Watching Now” feature, an industry-first integration of sports wagering and live streaming with fuboTV.

Designed as a holistic, hyper-personalized betting experience reflecting what users are watching on fuboTV, Fubo Sportsbook intends to combine data from both the betting and streaming platforms. Leveraging fuboTV’s first-party user behavior data to understand consumers’ viewing preferences and recommend relevant bets, the company intends to turn passive viewers into active, engaged participants.

Scott Butera, president, Fubo Gaming, said, “As we enter the mobile sports betting market, we couldn’t be more excited to kick off this journey in Iowa. We thank the IRGC and Casino Queen for being the perfect partner in helping us cross the goal line and bring this sportsbook to the passionate sports fans of Iowa.”

He added: “We believe Fubo Sportsbook will provide an elevated sports entertainment experience that will bring increased interaction and engagement between sports viewing and betting. We are working with regulators in additional markets as we aim to truly innovate the gaming space.”

Fubo Gaming also has obtained market access agreements in four other states, including Arizona through a partnership with the Ak-Chin Indian Community, Pennsylvania via The Cordish Companies as well as in Indiana and New Jersey via Caesars Entertainment Inc.

About Fubo Gaming

Fubo Gaming Inc., is a Chicago-based subsidiary of live TV streaming platform fuboTV Inc. (NYSE: FUBO) that is dedicated to delivering a unique, hyper-personalized sports entertainment and wagering experience. Launched in 2021, Fubo Gaming brings together fuboTV’s leading sports-first live TV streaming platform with the soon-to-be-launched Fubo Sportsbook to create an omni-screen ecosystem in which wagering information automatically syncs with users’ interests and real-time viewing. Fubo Sportsbook is expected to launch in Q4 2021, subject to obtaining requisite regulatory approvals. It currently has market access agreements for Arizona via Ak-Chin Indian Community, Pennsylvania via The Cordish Companies, Iowa via Casino Queen, as well as Indiana and New Jersey via Caesars Entertainment Inc. For more information, visit fubosportsbook.com.

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 74 of the top 100 Nielsen-ranked networks across sports, news and entertainment — more than any other live TV streaming platform (source: Nielsen Total Viewers, 2020). Subscribers can interact with fuboTV’s live streaming experience through predictive free-to-play games, which are integrated into select sports content.

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.

Forward-Looking Statements

This press release contains forward-looking statements of fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding our market opportunity, business strategy and plans, the continued shift in consumer behavior and the expected launch of free to play games, FanView and Fubo Sportsbook. The words “could,” “will,” “plan,” “intend,” “anticipate,” “approximate,” “expect,” “potential,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that fuboTV makes due to a number of important factors, including but not limited to risks related to our pursuit and engagement in acquisitions; our actual operating results may differ significantly from our guidance; risks related to the Company’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth; the restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third party platforms to operate certain aspects of our business; risks related to our technology, as well as cybersecurity and data privacy-related risks; our ability to achieve or maintain profitability; our revenue and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; risks related to our ability to capitalize develop and market a sports wagering offering and the regulatory regime and related risks associated with such offering; risks related to the difficulty in measuring key metrics related to our business; risks related to the highly competitive nature of our industry; risks related to ongoing or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 filed with the Securities and Exchange Commission (“SEC”) on August 11, 2021 and our other periodic filings with the SEC. We encourage you to read such risks in detail. The forward-looking statements in this press release represent fuboTV’s views as of the date of this press release. fuboTV anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing fuboTV’s views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210831005152/en/

Investor Contacts:

Alison Sternberg, fuboTV

asternberg@fubo.tv

The Blueshirt Group for fuboTV

ir@fubo.tv

Media Contacts:

Deliah Mathieu, Fubo Gaming

dmathieu@fubo.tv

Lexi Panepinto, Fubo Gaming

lpanepinto@ctpboston.com

Source: Fubo Gaming Inc.

FAQ

What is Fubo Gaming's latest announcement regarding sports betting?

Fubo Gaming has received approval to launch its online sportsbook, Fubo Sportsbook, in Iowa, set to go live in Q4 2021.

When will Fubo Sportsbook launch?

Fubo Sportsbook is expected to launch in Q4 2021.

Which states has Fubo Gaming received market access agreements for?

Fubo Gaming has agreements in Iowa, Arizona, Pennsylvania, Indiana, and New Jersey.

What unique feature does Fubo Sportsbook offer?

Fubo Sportsbook includes the 'Watching Now' feature, integrating sports wagering with live streaming.