fuboTV (NYSE: FUBO) It is stepping into a very promising corner of the sports market, the company announced Tuesday that it has agreed to acquire Vigtory, a sports betting and gaming specialist, fuboTV, saying the leverage of the new asset is expected to launch a sportsbook. (Such as sports betting services) by the end of the year
Both the prices and terms of the deal were not made public.
Vigtory is a relatively young company founded in 2019, it’s not a coincidence, that is, amid the wave of legalization for legal sports betting across the United States, that wave has not yet come as the coronavirus outbreak has created a tense. Credits to multi-state finance; It is at least likely to legalize it to get more tax revenue.
fuboTV is committed to competing in this segment. Last month, it acquired another sports betting technology company, Balto Sports, in a press release, a deal for both Balto and Vigtory fuboTV, citing estimates from Zion Market Research speculating that the online sports betting market will. Worth $ 155 billion by 2024.
“We believe online sports betting is a very complementary business for our first live sports TV streaming platform,” the company quoted David Gandler, CEO of the company at a Vigtory press release. We see gambling as an add-on to fuboTV, but we believe it has the potential to provide streaming, video and interactive content.
FuboTV investors seem to strongly agree. On Tuesday, the company’s stock jumped 34 percent, past a steady performance of S&P 500 index.