{"id":276,"date":"2024-06-28T14:22:30","date_gmt":"2024-06-28T11:22:30","guid":{"rendered":"https:\/\/slotsgardennodepositbonuscodes.icu\/2024\/06\/28\/fubotv-shuts-down-sports-betting-operations\/"},"modified":"2024-06-28T14:22:30","modified_gmt":"2024-06-28T11:22:30","slug":"fubotv-shuts-down-sports-betting-operations","status":"publish","type":"post","link":"https:\/\/slotsgardennodepositbonuscodes.icu\/2024\/06\/28\/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\/zq2vHNCY9ko\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The live television streaming platform, FuboTV, has declared they are discontinuing their sports wagering operations, effective immediately. This decision follows a thorough examination of their business, which they initiated only a few months ago. FuboTV stated they were unable to sustain their sports betting division independently in this challenging economic climate.<\/p>\n<p>They revealed that several organizations expressed interest in acquiring their betting operations, but none were able to assist FuboTV in reducing expenses and generating sufficient profits for their shareholders. <\/p>\n<p>Consequently, FuboTV is ceasing operations of both Fubo Gaming and Fubo Sportsbook forthwith. <\/p>\n<p>David Gandler, the co-founder and chief executive officer of FuboTV, stated, &#8220;We evaluated our business and concluded that maintaining Fubo Gaming and Fubo Sportsbook in this difficult economic environment would hinder our long-term profitability. Therefore, we made the challenging decision to terminate our online sports betting activities.&#8221; <\/p>\n<p>FuboTV has revealed its initial third-quarter figures, showcasing a robust performance. North American earnings are anticipated to surge by 34% compared to the prior year, reaching approximately $120 million. Income from other regions is projected to be at least $5.5 million.<\/p>\n<p>The enterprise anticipates having over 1.22 million paying customers in North America during the third quarter, a substantial increase exceeding 27% from the preceding year. Outside of North America, they foresee reaching 350,000 subscribers.<\/p>\n<p>FuboTV also indicated that they expect an adjusted EBITDA of roughly negative $100 million for the third quarter. However, they anticipate having at least $300 million in liquid assets by the end of the quarter.<\/p>\n<p>The organization emphasized that these initial results demonstrate their ongoing advancement toward achieving profitability by 2025.<\/p>\n<p>David Gandler, a company spokesperson, stated that the strong performance reflects their dedication to expanding the leading global live television streaming platform. They are pleased with their extensive selection of premium content and interactive capabilities.<\/p>\n<p>Gandler also emphasized the anticipated robust revenue and subscriber growth in the third quarter, surpassing their prior guidance. He expressed contentment with the performance and their progress toward attaining positive cash flow by 2025. <\/p>\n<p>Were thrilled to unveil further information and discuss our comprehensive third-quarter 2022 financial performance, along with our strategic roadmap for the entire year, during our earnings conference call scheduled for November 4th.<\/p>\n<p>Subscribe to the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The live television streaming platform, FuboTV, has declared they are discontinuing their sports wagering operations,&#8230;<\/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: What<\/title>\n<meta name=\"description\" content=\"FuboTV shuts down its sports betting division, citing economic challenges. 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