{"id":256,"date":"2024-06-27T04:32:33","date_gmt":"2024-06-27T01:32:33","guid":{"rendered":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/"},"modified":"2024-06-27T04:32:33","modified_gmt":"2024-06-27T01:32:33","slug":"fubotv-shuts-down-sports-betting-operations","status":"publish","type":"post","link":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/","title":{"rendered":"FuboTV Shuts Down Sports Betting Operations"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Xp8Oamk3GDY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>FuboTV, the live television streaming service, has declared that they are discontinuing their sports wagering operations. The company&#8217;s Fubo Gaming division will be terminated, and their independently operated Fubo Sportsbook will cease functioning.<\/p>\n<p>This choice follows a review of their business, which they initiated in August. FuboTV stated that they were unable to sustain their sports betting division independently in the current economic climate.<\/p>\n<p>FuboTV has encountered several entities expressing interest in acquiring their betting operations. However, they indicated that none of these transactions would provide them with the necessary financial resources to achieve profitability for their investors.<\/p>\n<p>Consequently, FuboTV will immediately shut down Fubo Gaming and cease all Fubo Sportsbook activities.<\/p>\n<p>&#8220;Following an assessment of our business, we concluded that maintaining Fubo Gaming and Fubo Sportsbook in this challenging economic environment would hinder our long-term financial objectives,&#8221; remarked David Gandler, founder and CEO of FuboTV.<\/p>\n<p>&#8220;Therefore, we have made the difficult decision to withdraw from the online sports wagering market at this juncture.&#8221; <\/p>\n<p>FuboTV has unveiled its initial third-quarter financial data, displaying a significant surge in North American earnings. They anticipate generating approximately $120 million, representing a 34% rise from the previous year. Their international earnings are projected to reach at least $5.5 million.<\/p>\n<p>The firm expects to have over 1.22 million paying customers in North America during the third quarter. This signifies a remarkable 27% increase from the preceding year. They also anticipate having 350,000 international subscribers.<\/p>\n<p>FuboTV also disclosed that they are anticipating an adjusted EBITDA of around -$100 million for the third quarter. They also project having at least $300 million in liquid assets at the quarter&#8217;s end.<\/p>\n<p>FuboTV stated that these preliminary results demonstrate their progress towards achieving profitability by 2025.<\/p>\n<p>David Gandler, the chief executive officer of FuboTV, remarked, &#8220;FuboTV&#8217;s robust preliminary third-quarter results highlight our dedication to expanding our global live TV streaming platform in a profitable manner. We provide a diverse array of premium content and interactive features.&#8221;<\/p>\n<p>He further added, &#8220;We are anticipating substantial revenue and subscriber growth in the third quarter, surpassing our prior guidance for North America. This is particularly noteworthy considering the competitive market. We are pleased with these outcomes and the advancement we are making towards our objective of positive cash flow by 2025.&#8221; <\/p>\n<p>Were thrilled to unveil further information and delve into our comprehensive Q3 2022 outcomes, along with our projections for the whole year. This will take place during our earnings conference call on November 4th.<\/p>\n<p>Subscribe to the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>FuboTV, the live television streaming service, has declared that they are discontinuing their sports wagering operations. The company&#8217;s Fubo Gaming division will be terminated, and their independently operated Fubo Sportsbook will cease functioning. This choice follows a review of their business, which they initiated in August. FuboTV stated that they were unable to sustain their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FuboTV Drops Sports Betting: Focus Shifts to Streaming<\/title>\n<meta name=\"description\" content=\"FuboTV is shutting down its sports betting operations, Fubo Gaming and Fubo Sportsbook, to focus on its core live TV streaming service.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"FuboTV Shuts Down Sports Betting Operations\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"FuboTV is shutting down its sports betting operations, Fubo Gaming and Fubo Sportsbook, to focus on its core live TV streaming service.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Join the Ultimate Online Casino Adventure | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T01:32:33+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/\",\"url\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/\",\"name\":\"FuboTV Drops Sports Betting: Focus Shifts to Streaming\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#website\"},\"datePublished\":\"2024-06-27T01:32:33+00:00\",\"dateModified\":\"2024-06-27T01:32:33+00:00\",\"author\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"FuboTV is shutting down its sports betting operations, Fubo Gaming and Fubo Sportsbook, to focus on its core live TV streaming service.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/27\/fubotv-shuts-down-sports-betting-operations\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/cryptoleobonuscode.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FuboTV Shuts Down Sports Betting Operations\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#website\",\"url\":\"https:\/\/cryptoleobonuscode.icu\/\",\"name\":\"Join the Ultimate Online Casino Adventure | Licensed &amp; Secure\",\"description\":\"Discover the latest trends and opportunities in online gambling with our fresh casino news, in-depth game reviews, and informative insights. 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