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FuboTV Ceases Operations of Fubo Sportsbook, Announces Preliminary Q3 2022 Results

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FuboTV Ceases Operations of Fubo Sportsbook, Announces Preliminary Q3 2022 Results

 

FuboTV Inc., the leading sports-first live TV streaming platform, announced its preliminary third quarter 2022 results. Revenue and subscriber growth for North America (NA) are expected to exceed previously issued guidance.

The company is expected to close the third quarter 2022 with NA revenue of at least $210 million, an increase of approximately 34% year-over-year, and Rest of World (ROW) revenue of at least $5.5 million. Prior third quarter revenue guidance for the NA streaming business was $200-205 million and $5-6 million for ROW. ROW includes Molotov, the French live TV streaming service acquired by FuboTV in December 2021.

Paid subscribers in NA for the third quarter are expected to exceed 1,220,000, an increase of more than 27% year-over-year, with ROW paid subscribers expected to reach approximately 350,000. Prior third quarter paid subscriber guidance was 1,135,000-1,155,000 for NA and 340,000-360,000 for ROW.

FuboTV states its key metrics on a year-over-year basis given the seasonality of sports content.

Additionally, the company expects to post approximately negative $100 million of Adjusted EBITDA (AEBITDA) in the third quarter. Fubo’s balance of cash and cash equivalents at the end of the quarter is expected to be at least $300 million.

FuboTV’s expected preliminary results demonstrate a continued progression towards the company’s 2025 profitability targets. Given these goals, the company has now completed its previously announced strategic review of the Fubo Gaming business. While multiple parties expressed interest in the business, none of these opportunities would have allowed Fubo to lower its funding requirements and generate sufficient returns to shareholders. As a result, FuboTV will close its Fubo Gaming subsidiary and cease operation of its owned-and-operated Fubo Sportsbook effective immediately.

“FuboTV’s strong preliminary third quarter 2022 results reflect meaningful advancements against our continued mission to profitably scale a leading global live TV streaming platform differentiated by the greatest breadth of premium content and interactivity,” said David Gandler, co-founder and CEO, FuboTV. “We expect to deliver strong revenue and subscriber growth in Q3, exceeding our previously issued guidance in North America, against the backdrop of a highly competitive operating environment. We’re pleased with this expected performance, and our progress toward achieving our positive cash flow target in 2025. Following our previously announced strategic review, we have concluded that continuing with Fubo Gaming and Fubo Sportsbook in this challenging macroeconomic environment would impact our ability to reach our longer term profitability goals. Therefore, we have made the difficult decision to exit the online sports wagering business effective immediately. We look forward to providing more color, as well as discussing our full third quarter 2022 results and full year outlook, on our November 4 earnings call.”

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Plannatech Enters Arizona with Hosting Solutions from Internet Vikings

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Plannatech Enters Arizona with Hosting Solutions from Internet Vikings

 

Internet Vikings, a licensed in-state hosting provider for the U.S. iGaming and online sports betting industry, is announcing that it’s supporting Plannatech, a large B2B Provider, now stepping into the B2C space, in its expansion within the United States through an agreement to provide VMware cloud hosting solutions in Arizona.

Plannatech, leveraging the well-established Betcris brand from the America’s sports betting industry, has selected Internet Vikings for its structured setup processes, stable hosting environment, and technical expertise. This agreement ensures that the B2C iGaming and sportsbook operator benefits from a highly secure and reliable infrastructure, with Internet Vikings’ responsive support playing a crucial role in maintaining smooth operations.

“This is our 2nd state with Internet Vikings, who has been an absolute pleasure working with in providing the solid hosting infrastructure we need as we now expand into Arizona this time as the Operator,” said Adam Bjorn, CEO at Plannatech.

“We value our partnership with Plannatech and extending our VMware cloud hosting solutions to Arizona was the perfect next step as they bring new strategic offerings to the U.S. market,” said Rickard Vikström, CEO and Founder of Internet Vikings.

The Arizona sports betting market has seen impressive growth rates, with total handle reaching $791.2M in October 2024. While several operators have struggled to gain traction, Plannatech, utilizing the Betcris brand, is taking a strategic approach and leveraging its extensive experience in competitive markets. By choosing Internet Vikings as their hosting partner, Plannatech ensures a strong, compliant, and resilient digital presence as they expand their U.S. operations.

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Paysecure expands reach across LATAM, showcasing solutions at SIGMA Americas

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Paysecure expands reach across LATAM, showcasing solutions at SIGMA Americas

 

Paysecure is strengthening its presence across Latin America, addressing the region’s complex payment landscape with advanced payment orchestration solutions. As part of this strategic plan, Paysecure will showcase its cutting-edge platform at SIGMA Americas, taking place April 7-10, at booth N115.

Expanding into new LATAM markets presents businesses with significant challenges, including navigating diverse local payment methods, multi-currency processing, managing multiple Payment Service Providers (PSPs), or ensuring compliance with varying regulations and reducing fraud (Brazil experiences a chargeback rate of approximately 3.48%, while Mexico’s rate stands at about 2.81%).

Already operational in key LATAM markets such as Mexico, Brazil, Argentina, Colombia, Costa Rica and more, Paysecure is poised to address these payment barriers by offering a single, streamlined API integration and a fully customizable dashboard that allow merchants to gain access to advanced capabilities including:

  • Smart transaction routing – The company optimizes payment flows, managing to achieve up to a 15% decrease in payment processing costs by finding the lowest-cost routing options through dynamic selection.
  • Comprehensive merchant controls: Paysecure’s intelligent engine allows transaction limits settings, applies cascading logic, and enables 10+ types of real-time reports that analyze trends and customer behavior.
  • Dynamic fraud prevention: Its User Trust Score system and adaptive fraud detection tailored to each market ensure an over 10% decrease in fraud-related losses.
  • Global payment network: With access to 500+ PSPs and acquirers, Paysecure enables businesses to offer customers their preferred payment methods in any country or currency.

In addition, the company has been shortlisted for ‘Best Online Payments Service 2025’ at the SIGMA Americas Awards Ceremony. The company will also exhibit at the event and attendees can visit Paysecure’s booth (N115) to explore how its solutions can enhance payment security and efficiency in the LATAM market.

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National Football League and WePlay Studios Team Up to Launch NFL Offsides

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The National Football League and WePlay Studios are teaming up to launch NFL Offsides, a first-of-its-kind weekly game show where NFL players, Legends, and well-known gaming creators compete in high-energy, video game-inspired challenges. Packed with larger-than-life personalities in a first-of-a-kind format, this is where content meets the gridiron in the most unexpected ways. NFL Offsides will debut on April 15, 2025, at 7 p.m. ET / 4 p.m. PT and stream live on Tuesdays during the 2025 offseason on the NFL’s official YouTube channel, with co-streams on featured creators’ channels. 

The series will be hosted by Cameron Dicker, nicknamed “Dicker the Kicker,” the Los Angeles Chargers Placekicker and the first NFL player born in Hong Kong, and popular streamer, Ovilee May. She is known for her prominent hosting for esports teams, major game publishers, and professional sports league productions. The premiere will feature NFL player, Daiyan Henley of the Los Angeles Chargers and Todd Gurley, NFL Legend and 2017 NFL Offensive Player of the Year, teaming up with top gaming creators Xaryu and Pikaboo for an exciting episode inspired by classic “Brawl” games.

“NFL Offsides promises to deliver a dynamic mix of sports and gaming content that will strengthen our connection to Gen-Z fan communities,” said Ed Kiang, vice president of video gaming at the NFL. “We’re excited to partner with WePlay Studios to bring this game show to life with NFL players and Legends alongside top gaming creators.”

Each episode of NFL Offsides will be divided into three segments, with unique opportunities for viewers to engage with the talent throughout the show: 

  • Physical Challenge: A real-life recreation of video game-inspired sets and challenges that will test participants’ physical and strategic skills.
  • Mystery Segment: An unpredictable twist where participants could face puzzles, quizzes, or surprise challenges led by the production team or their community in chat.
  • Gaming Showdown: The ultimate test of reflexes and teamwork as participants go head-to-head in a leading video game title, pushing their competitive skills to the limit.

The show will be produced by WePlay Studios, a content production team specializing in creating entertainment shows and gaming formats worldwide.  

“Sports and video games are united by passion. Inspired by iconic ‘90s game shows, we wanted to bring that nostalgic energy into a fresh format for today’s generation,” said Maksym Bilonogov, chief visionary officer and executive producer at WePlay Studios. “After a decade of refining audience engagement, we’re applying that expertise to NFL Offsides. Partnering with the biggest sports league in America, the NFL is an incredible opportunity.” 

Future episodes will feature NFL players, Legends, and top gaming creators, including Terrell Owens, Jeffery Simmons, the Botez sisters, MMG, Repullze, Esfand, and more. 

This new series is part of the broader NFL strategy aiming to attract the next generation of fans. 

NexTide Media, a creator-first media agency and ad tech solutions partner of WePlay Studios, is driving brand integrations for NFL Offsides – connecting advertisers with this one-of-a-kind gaming-meets-sports experience. 

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