CLEVELAND AND CHICAGO–(BUSINESS WIRE)–February 8, 2022–
The Cleveland Cavaliers and Fubo Gaming, a subsidiary of fuboTV Inc. (NYSE: FUBO) today announced a market access agreement, Fubo Sportsbook an official mobile sports betting partner of the team upon the launch of sports betting in Ohio, pending required regulatory approvals.
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Fubo Sportsbook Named Official Mobile Sports Betting Partner of the Cavs. (Photo: BusinessWire)
The announcement, which further advances the companies’ current marketing partnership formed in October 2021, comes on the heels of the legalization of sports betting in the state of Buckeye. Pending regulatory approvals, Fubo Sportsbook will launch its market-defining betting platform in Ohio, providing Cavs fans with even more personalized and immersive gaming experiences.
Fubo Gaming launched Fubo Sportsbook in Q4 2021 and is live in two states: Iowa and Arizona. Fubo Sportsbook is purpose-built to meet the growing demand for interactivity from US sports fans through an industry-first integration of an owned-and-operated sports betting platform with a live TV streaming experience.
The partnership will include the opening of a 3,000 square foot Sports Lounge inside Rocket Mortgage FieldHouse, which will serve as a game day destination for fans with incentives and special bonus offers provided by Fubo Sportsbook . Additionally, fans will be able to watch NBA games and other sporting events from the comfort of the living room.
“This is an exciting evolution of our ongoing partnership with Fubo Gaming,” said Len Komoroski, CEO of Cavaliers and Rocket Mortgage FieldHouse. “The Fubo Sportsbook mobile betting platform provides cutting-edge technology, connectivity and entertainment that aligns perfectly with our commitment to innovation and engagement in all aspects of the fan experience. We expect look forward to continued collaboration with Fubo as we work to establish a premier sports betting marketplace to offer our fans in Cleveland and throughout the State of Ohio.
“The opportunity to enter the Ohio sports betting market with the Cavaliers as a partner is a big step forward for Fubo,” said Scott Butera, president of Fubo Gaming. “Ohio has a passionate fan base who will appreciate Fubo’s unique integrated sports betting and streaming experience. The Cavs are at the forefront of sports innovation and consistently create highly engaging fan experiences. Fubo to instantly access a very attractive clientele.
Prior to the official launch of Fubo Sportsbook in Ohio, the Cavaliers and Fubo Gaming will continue to promote their partnership through an integrated marketing campaign highlighted by visible signage at co-branded high-impact broadcast, a presence on team television and radio game programming, as well as other marketing assets.
Fubo Gaming expects to announce the launch of Fubo Sportsbook in additional markets in the coming months, subject to required regulatory approvals and, in some jurisdictions, the enactment of laws. This is Fubo Gaming’s seventh market access agreement, in addition to Arizona, Indiana, Iowa, New Jersey, Pennsylvania and Texas.
About Fubo Gaming
Launched in 2021, Fubo Gaming Inc. is a Chicago-based subsidiary of live TV streaming platform fuboTV Inc. (NYSE: FUBO), and developer and distributor of Fubo Sportsbook. Fubo Sportsbook is specially designed to integrate with fuboTV, creating a personalized omni-screen experience that turns passive viewers into active and engaged participants. Fubo Sportsbook officially launched in November 2021 and is currently live in Iowa and Arizona. Fubo Gaming also has market access deals in Indiana and New Jersey through Caesars Entertainment, Inc., Ohio through NBA Cleveland Cavaliers, Pennsylvania through The Cordish Companies, and Texas through Houston Dynamo Football. Club. Fubo Sportsbook’s launch schedule in each state is subject to obtaining required regulatory approvals and, in some jurisdictions, the enactment of legislation. For more information, visit fubosportsbook.com.
About the Cleveland Cavaliers
The Cleveland Cavaliers won the NBA championship in 2016 while winning the Eastern Conference crown in 2007, 2015, 2016, 2017, and 2018. The team also plays and operates the newly transformed, publicly owned Rocket Mortgage FieldHouse, in downtown Cleveland, Ohio. The Cavaliers and Rocket Mortgage FieldHouse are part of the Rock Entertainment Group. The group also includes the Cleveland Monsters of the AHL, the Cleveland Charge of the NBA G League, the Cavs Legion of the NBA 2K League, the Legion Lair Lit by TCP, home of the Cavs Legion in Cleveland, and the Cleveland Clinic Courts – the formation and formation of the Cavaliers. development center in Independence, Ohio. The Cavaliers are regularly recognized for their extensive community support and engagement programs and contributions, leadership in workplace diversity and inclusion, and ongoing economic impact that now amounts to billions of dollars locally . Dan Gilbert is president of the Cleveland Cavaliers. Gilbert and his family of companies have now invested over $2.0 billion in Cleveland. Gilbert is also Founder and Chairman of Rocket Mortgage, the nation’s largest mortgage lender, and Founder and Chairman of Rock Ventures LLC, the apex entity for his business and real estate investment portfolio. Len Komoroski is the CEO of Rock Entertainment Group and Nic Barlage is the President and Chief Operating Officer of Rock Entertainment Group. The Cavaliers team is led by general manager Koby Altman and head coach JB Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse provide fans with the best NBA experience with its expansive and amazing array of equipment and technology and electrifying game presentation.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements by fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements in this press release that do not relate to historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our market opportunities, strategy and business plans. , our partnerships, forecasts the continued rollout of Fubo Sportsbook and the continued shift in consumer behavior towards sports betting and streaming services and the planned launch of Fubo Sportsbook in other markets. The words “could”, “will”, “plan”, “intend”, “anticipate”, “approach”, “expect”, “potential”, or the negative form of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in fuboTV’s forward-looking statements due to a number of important factors, including, but not limited to, risks relating to our pursuit and our engagement in acquisitions; our actual operating results may differ materially from our expectations; risks related to the Company’s access to capital and fundraising prospects to finance its ongoing operations and support its expected growth; restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third-party platforms to operate certain aspects of our business; risks related to our technology, as well as cybersecurity and data privacy risks; our ability to achieve or maintain profitability; our revenues and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; risks related to our ability to capitalize, develop and market a sports betting offering and the regulatory regime and associated risks associated with such an offering; risks related to the difficulty of measuring key parameters related to our activities; risks related to the highly competitive nature of our industry; risks related to current or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future currency and interest rates, and changes in tax and other laws, regulations, rates and policies , including the impact of COVID-19 on the overall market. Additional risks that could cause actual results to differ materially from those expressed or implied by these forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 filed with the Securities and Exchange Commission. (“SEC”) on August 11, 2021 and our other periodic filings with the SEC. We encourage you to read these risks in detail. The forward-looking statements contained in this press release represent the views of fuboTV 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 choose to update these forward-looking statements at some point in the future, it expressly disclaims any obligation to do so. You should therefore not rely on these forward-looking statements as representing the views of fuboTV as of any date subsequent to the date of this press release.
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CONTACT: Investor contacts
Alison Sternberg, fubo TV
[email protected] Blueshirt group for fuboTV
[email protected] contacts
Zack Yohman, Cleveland Cavaliers
[email protected] Mathieu, Fubo Gaming
[email protected] Panepinto, CTP for Fubo Gaming
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS OHIO
INDUSTRY KEYWORD: BASKETBALL ENTERTAINMENT SPORTS TV & RADIO CASINO/ONLINE GAMES
SOURCE: Fubo Gaming Inc.
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PUBLISHED: 08/02/2022 16:30 / DISK: 08/02/2022 16:32