First U.S. Mobile Sportsbook to Integrate With
Owned-and-Operated Live TV Streaming Platform Expected to Launch in
Ohio Pending Regulatory Approvals
The Cleveland Cavaliers and Fubo Gaming, a subsidiary of fuboTV
Inc. (NYSE: FUBO) today announced a market access agreement, making
Fubo Sportsbook an Official Mobile Sports Betting Partner of the
team when the sportsbook launches in Ohio, pending requisite
regulatory approvals.
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the full release here:
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Fubo Sportsbook Named the Cavs' Official
Mobile Sports Betting Partner. (Photo: Business Wire)
The announcement, which further advances the companies’ current
marketing partnership formed in October 2021, comes on the heels of
the legalization of sports gambling in the Buckeye State. Pending
regulatory approvals, Fubo Sportsbook will launch its
market-defining wagering platform in Ohio, offering Cavs fans even
more personalized and immersive game-day experiences.
Fubo Gaming launched Fubo Sportsbook in the fourth quarter 2021
and is live in two states: Iowa and Arizona. Fubo Sportsbook is
purpose-built to meet U.S. sports fans’ growing demand for
interactivity through an industry-first integration of an
owned-and-operated sports wagering platform with a live TV
streaming experience.
The partnership will feature the opening of a 3,000 sq. ft.
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 lounge.
“This is an exciting evolution of our continued partnership with
Fubo Gaming,” said Len Komoroski, CEO, Cavaliers and Rocket
Mortgage FieldHouse. “The Fubo Sportsbook mobile wagering platform
provides leading technology, connectivity and entertainment that
aligns perfectly with our commitment to innovation and engagement
across every aspect of the fan experience. We look forward to the
continued collaboration with Fubo as we work to establish a
best-in-class 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 our partner is a major step forward for Fubo,”
said Scott Butera, president, Fubo Gaming. “Ohio has a passionate
fan base who will enjoy Fubo’s uniquely integrated streaming and
wagering sports betting experience. The Cavs are at the forefront
of sports innovation and consistently create highly engaging fan
experiences. This partnership provides Fubo instant access to a
highly attractive customer base.”
Leading up to Fubo Sportsbook’s official launch in Ohio, the
Cavaliers and Fubo Gaming will continue to promote their
partnership through an integrated marketing campaign highlighted by
co-branded high-impact broadcast-visible signage, 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 requisite
regulatory approvals and, in certain jurisdictions, enactment of
legislation. This marks 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
purpose-built to integrate with fuboTV, creating a personalized
omniscreen 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 has also entered into market access agreements in Indiana
and New Jersey via Caesars Entertainment, Inc., Ohio via the NBA
Cleveland Cavaliers, Pennsylvania via The Cordish Companies, and
Texas via The Houston Dynamo Football Club. The launch timeline of
Fubo Sportsbook in each state is subject to obtaining requisite
regulatory approvals and, in certain jurisdictions, enactment of
legislation. For more information, visit fubosportsbook.com.
About Cleveland
Cavaliers
The Cleveland Cavaliers won the NBA Championship in 2016 while
also taking the Eastern Conference crown in 2007, 2015, 2016, 2017
and 2018. The team plays at, and also operates, the newly
transformed, publicly-owned Rocket Mortgage FieldHouse in downtown
Cleveland, Ohio. The Cavaliers and Rocket Mortgage FieldHouse are
part of Rock Entertainment Group. The Group also includes the
Cleveland Monsters of the AHL, the Cleveland Charge of the NBA G
League, Cavs Legion of the NBA 2K League, Legion Lair Lit by TCP
home of Cavs Legion in Cleveland, and Cleveland Clinic Courts - the
Cavaliers’ training and development center in Independence, Ohio.
The Cavaliers are regularly recognized for their extensive
community support and engagement programs and contributions,
workplace diversity and inclusion leadership, and an on-going
economic impact that now registers in the billions of dollars
locally. Dan Gilbert is Chairman 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 umbrella entity for his
portfolio of business and real estate investments. Len Komoroski is
the Rock Entertainment Group CEO and Nic Barlage is the Rock
Entertainment Group President and Chief Operating Officer. The
Cavaliers team is led by General Manager Koby Altman and Head Coach
J.B. Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse
provide fans the best experience in the NBA with its extensive and
stunning array of amenities and technology and signature,
electrifying game presentation.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements of fuboTV
Inc. (“fuboTV”) that involve substantial risks and uncertainties.
All statements contained in this press release that do not relate
to matters of historical fact are forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995, including statements regarding our market opportunity,
business strategy and plans, partnerships, the expected continued
rollout of Fubo Sportsbook and the continued shift in consumer
behavior towards sports wagering and streaming services and the
expected launch of Fubo Sportsbook in additional markets. The words
“could,” “will,” “plan,” “intend,” “anticipate,” “approximate,”
“expect,” “potential,” or the negative of these terms or other
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward-looking statements that fuboTV makes due to a number of
important factors, including but not limited to risks related to
our pursuit and engagement in acquisitions; our actual operating
results may differ significantly from our guidance; risks related
to the Company’s access to capital and fundraising prospects to
fund its ongoing operations and support its planned growth; the
restrictions imposed by content providers on our distribution and
marketing of our products and services; our reliance on third party
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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
wagering offering and the regulatory regime and related risks
associated with such offering; risks related to the difficulty in
measuring key metrics related to our business; risks related to the
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actual results to differ materially from those matters expressed in
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Quarterly Report on Form 10-Q for the quarterly period ended June
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to the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220208005937/en/
Investor Contacts Alison
Sternberg, fuboTV asternberg@fubo.tv
The Blueshirt Group for fuboTV ir@fubo.tv
Media Contacts Zack Yohman,
Cleveland Cavaliers zyohman@cavs.com
Deliah Mathieu, Fubo Gaming dmathieu@fubo.tv
Lexi Panepinto, CTP for Fubo Gaming lpanepinto@ctpboston.com
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