FuboTV is committed to staying in the sports betting market and is actively seeking a partner to enhance its presence.
FuboTV is gearing up to find a partner for its mobile sports betting platform.
On Friday, Fubo Sportsbook President Scott Butera took to Twitter to announce that the company is actively seeking a partner to boost its brand expansion.
The company unveiled its Arizona sportsbook in December 2021 after successfully introducing its technology in Iowa. It is now on the verge of launching in New Jersey.
Butera stated in a tweet that during the Earnings call on August 4, it was confirmed that they continue to believe that an integrated wagering platform, which combines live video and wagering, will offer the optimal experience for consumers.
We have decided to stop pursuing this opportunity on our own and are now considering the best way to expand our business. We will keep you informed as we continue our discussions.
Chances of Collaborating with Fubo Sportsbook
Which operator might be a suitable partner for Fubo Sportsbook?
FuboTV may consider Caesars Sportsbook Arizona as a potential partner.
Fubo Sportsbook Arizona secured its license in the state through a partnership with the Ak-Chin Indian Community, which also partners with Caesars to oversee operations at the Harrah’s Ak-Chin Hotel and Casino.
In December, Butera notified BetArizona that Caesars was the initial connection to the Ak-Chin Indian Community. Our partnership with Caesars extends to locations in Indiana and New Jersey, where they have consistently shown themselves to be trustworthy collaborators. Additionally, the Ak-Chin Indian Community has been an outstanding partner in our endeavors.
Considering DraftKings Sportsbook’s recent acquisition of Golden Nugget Online Gaming, it would make sense for them to explore the possibility of acquiring or partnering with Fubo Sportsbook.
Other names to keep an eye on are emerging players in the industry, such as Fanatics (which was recently awarded its first retail sports betting license in Maryland) and companies like Hard Rock Interactive, known for their bold acquisition tactics to establish a foothold in regulated states.
Both DraftKings and Hard Rock have recently introduced sports betting apps in Arizona. DraftKings has joined forces with TPC Scottsdale, while Hard Rock has formed a partnership with the Navajo Nation.
What makes now the right time for Fubo Sportsbook?
Last Friday, Butera delivered these remarks after FuboTV’s second quarter earnings call from the previous week, where co-founder and CEO David Gandler discussed his vision for the future of Fubo Sportsbook.
Gandler was hopeful about the potential synergy of video and gaming, emphasizing the strategic benefits of combined experiences. As a sports platform, this is a top priority for us. It has become evident that operating independently is not feasible due to the significant costs required to become profitable.
FuboTV reported a total net loss of $116.3 million for the second quarter of the year, which includes $10.7 million in goodwill impairment charges linked to Fubo Sportsbook’s operations.
Gandler expressed strong confidence in the New York-based operator’s potential to secure a partner in the casino industry, citing its licenses in three states and numerous partnerships across the country.
Gandler stated that they are actively pursuing partnerships with other companies and are confident in the appeal of their current offerings, such as the Pick’em games. Furthermore, Gandler mentioned that they have successfully finalized 10 to 11 market access license agreements.
Hence, we provide great value to prospective /go-bet/ partners looking to quickly enter the market without having to make substantial investments in consumer marketing. This is thanks to our extensive customer base and the steady flow of trial customers.
The Sports Betting Industry’s Outlook for Fubo Sportsbook
Brendan Bussmann, Managing Partner at B Global, sees Fubo Sportsbook as a valuable asset that will draw interest from both seasoned industry players and newcomers looking to expand their market reach.
Bussmann suggested that Fubo will likely have numerous potential partners to select from, thanks to the licenses and market access agreements that the operator has at its disposal.
Bussmann notified yengols.com of numerous partnership possibilities with Fubo, citing the presence of key players in the industry. Potential partners like Fanatics and Underdog are considering collaborations with established brands such as FanDuel or Caesars, although the final result is still unclear.
Yengols.com provides Arizona sportsbook promotions year-round, beginning with the start of football season.
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Peterson Christopher, with more than seven years of experience reporting on sports and sports betting in Arizona, has been appointed as the lead writer for yengols.com. His past articles have been featured in ArizonaSports.com, the Tucson Weekly, and the Green Valley News.
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