FuboTV Inc. (NASDAQ: FUBO) stock plunged by 0.04% at the last close whereas the FUBO stock price gains by 5.57% in the after-hours trading session. The goal of fuboTV Inc. is to realize its vision of a streaming platform that goes beyond the industry’s present virtual MVPD paradigm. Its aim is to deliver the most exciting sports-first live TV experience in the world by combining the most premium content, interactivity, and integrated betting.
What is happening?
The Cordish Companies and Fubo Gaming which is a subsidiary of premier sports-first live TV streaming service fuboTV Inc. announced that a market access deal for the upcoming mobile Fubo Sportsbook in Pennsylvania has been finalized. The Cordish Companies, the owner and operator of Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh, have reached a deal with Fubo Gaming to enable nationwide mobile access for sports betting and iGaming. The opening of a Fubo Sportsbook in Pennsylvania is contingent on receiving the necessary governmental permits.
FuboTV plans to merge gambling with its extensive live sports offering through Fubo Sportsbook, creating a seamless user experience that allows customers to bet as they watch. In addition to national and regional network coverage, FuboTV has a best sports offering in Pennsylvania owing to carriage contracts with regional sports networks NBC Sports Philadelphia (Philadelphia 76ers, Philadelphia Flyers, and Philadelphia Phillies) and AT&T SportsNet Pittsburgh (Pittsburgh Penguins, Pittsburgh Pirates).
Following the previously announced market access deals in New Jersey and Indiana (via Caesars Entertainment, Inc.) and Iowa, today’s deal in Pennsylvania will introduce Fubo Sportsbook to a minimum of four states (through Casino Queen). Fubo Sportsbook is scheduled to start rolling out state-by-state in the fourth quarter of 2021, pending regulatory permission in each jurisdiction.
David Gandler, co-founder and CEO, fuboTV commented,
Their partnership with The Cordish Companies will provide Fubo Sportsbook to Pennsylvanians, bringing their sportsbook’s footprint to at least four states. They’re excited to provide a full sports entertainment experience with their sports book, which will mix live streaming and wagering. Regulatory clearances permitting, they plan to open Fubo Sportsbook in the fourth quarter of this year.