FuboTV is looking for help to create the future of its Fubo Sportsbook product.
A challenging financial market led to FuboTV (FUBO) looking at internal cost-saving measures, which include potentially offloading its sportsbook plans, according to a shareholder letter distributed before Thursday’s second-quarter earnings call. According to the letter, its sports betting business is under strategic review.
“We continue to believe that an integrated wagering platform, offering both live video and a sportsbook, will result in the best viewing and gaming experience for customers,” the letter reads. “However, as we have evaluated how best to scale these capabilities in today’s market, we have concluded that we will no longer pursue this opportunity on our own.
“We are in internal and external discussions to determine the best path forward for Fubo’s gaming business and look forward to sharing more information.”