fuboTV Secures Market Access Agreements for Forthcoming fubo Sportsbook in Indiana, New Jersey Through Caesars Entertainment Inc.

Rhea-AI Summary

fuboTV Inc. (NYSE: FUBO) has announced market access agreements for its upcoming fubo Sportsbook in Indiana and New Jersey, in partnership with Caesars Entertainment. This expansion follows a prior agreement in Iowa, ensuring the sportsbook will launch in at least three states by Q4 2021, pending regulatory approvals. The announcement comes after fuboTV reported a record $105.1 million in quarterly revenue for Q4 2020, with a total of 547,880 paid subscribers and notable increases in subscriber growth. The company has also secured partnerships with MLB and NBA as an Authorized Gaming Operator.

Positive

• Market access agreements in Indiana and New Jersey enable expansion of fubo Sportsbook.
• Record quarterly revenue of $105.1 million, marking the first time quarterly revenue exceeded $100 million.
• Acquisition of 92,800 net new subscribers in Q4 2020, totaling 547,880 subscribers.

Negative

• Regulatory approvals are still required for fubo Sportsbook launch in new states.
• Risks associated with successful integration of recent acquisitions and fundraising efforts.

fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced it has secured market access agreements for its forthcoming fubo Sportsbook in Indiana and New Jersey through Caesars Entertainment Inc.

The agreements will bring fubo Sportsbook to a minimum of three states at launch following fuboTV’s previously announced market access agreement in Iowa through Casino Queen. fubo Sportsbook is expected to launch in the fourth quarter of this year, subject to obtaining requisite regulatory approvals in each jurisdiction.

“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.

Yesterday, 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 actual). fuboTV ended 2020 with 547,880 paid subscribers, including 92,800 net subscriber additions in the fourth quarter. The company also announced further progress on fubo Sportsbook including agreements with Major League Baseball and the National Basketball Association to become an Authorized Gaming Operator of each league. For more information, read fuboTV’s shareholder letter available on the company’s IR site.

About fuboTV

fuboTV (NYSE: FUBO) is the leading sports-first live TV streaming platform offering subscribers access to tens of thousands of live sporting events annually as well as leading news and entertainment content. With 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). Continually innovating to give subscribers a premium viewing experience they can’t find with cable TV, fuboTV is regularly first-to-market with new product features and was the first virtual MVPD to stream in 4K. fuboTV was also the first U.S. virtual MVPD to enter Europe with the 2018 launch of fuboTV España. fuboTV launched fubo Sports Network, the live, free-to-consumer TV network featuring live sports and award-winning original programming, in 2019.

Forward-Looking Statements

This letter contains forward-looking statements of fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. 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 (i) risks related to the ability to realize the anticipated benefits of the Balto and Vigtory acquisitions, (ii) risks related to the company’s access to capital and fundraising prospects to fund its ongoing operations, (iii) risks related to diverting management’s attention from fuboTV’s ongoing business operations to address integration and fundraising efforts, (iv) risks related to our ability to capitalize successfully on market trends and develop and market a sports wagering offering, and (v) other business effects, 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 the company’s periodic filings with the Securities and Exchange Commission and 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 letter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210303005944/en/

FAQ

What is fuboTV's latest announcement regarding fubo Sportsbook?

fuboTV announced it has secured market access agreements for fubo Sportsbook in Indiana and New Jersey, expanding its presence ahead of a Q4 2021 launch.

When will fubo Sportsbook be launched?

fubo Sportsbook is expected to launch in Q4 2021, subject to regulatory approvals.

What were fuboTV's financial results for the fourth quarter of 2020?

fuboTV reported a record revenue of $105.1 million and gained 92,800 net new subscribers in Q4 2020.

How many subscribers does fuboTV currently have?

As of the end of 2020, fuboTV had 547,880 paid subscribers.

What partnerships has fuboTV secured for its sportsbook?

fuboTV has announced partnerships with Major League Baseball and the National Basketball Association as an Authorized Gaming Operator.