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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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Evolution Enters Rhode Island Through Extended Partnership with Bally’s Corporation

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Evolution Enters Rhode Island Through Extended Partnership with Bally’s Corporation

 

Evolution announced a new partnership agreement with Bally’s Corporation. The agreement strengthens Bally Casino’s offering in Rhode Island, with a wide-ranging portfolio of Evolution’s slot titles, and establishes Evolution’s footprint in Rhode Island, a key milestone in its US growth strategy.

In a historic first, Evolution is now live in Rhode Island with its online slot games from its renowned slot brands NetEnt, Red Tiger and Big Time Gaming. This milestone marks Evolution’s entry into the state and establishes a presence in all seven US states which currently offer online casino gaming.

Also, under the terms of the agreement, Evolution has also introduced exclusive Bally’s branded live dealer Blackjack tables in New Jersey and Pennsylvania. These dedicated tables offer a seamless user interface integration with the Bally Bet Casino app, and will provide a premium, personalised player experience which showcases the distinctive Bally brand. In addition to these live dealer games, Bally players in New Jersey and Pennsylvania will enjoy an expanded collection of the newest and most exciting cutting-edge slot titles.

Jacob Claesson, Chief Executive Officer Evolution North America, commented: “This agreement represents a significant step forward for both Evolution and Bally’s Corporation. We’re thrilled to deepen our collaboration with Bally’s by delivering world-class gaming experiences and extend our reach into Rhode Island, a first for Evolution. This partnership showcases our shared commitment to driving innovation and providing exceptional entertainment for players.”

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Compliance Updates

HIPTHER Launches Responsible Gambling Assessment Tool Across Its Global Gaming Media Network

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HIPTHER Launches Responsible Gambling Assessment Tool Across Its Global Gaming Media Network

 

HIPTHER, a leading media and events brand in the Gaming and Tech industries, has launched a new Responsible Gambling Assessment Tool, now live across all of its gaming media platforms. This quick, anonymous self-test is designed to help players better understand their relationship with gambling, encouraging safer play through awareness and early self-checks.

The “Play Responsibly” tool is backed by clinical research and built with user privacy at its core, based on the globally recognized Problem Gambling Severity Index (PGSI) – a 9-question framework used to assess gambling risk levels, from low to moderate or high.

No sign-up needed. No Cost. No data collected. No Judgement. Just honest insight.

Whether you’re simply curious or looking to take a proactive step toward support, this free tool delivers instant results and practical next steps – all in under two minutes.

Key Features:

  • Completely anonymous – no registration or personal data required
  • Instant results with tailored guidance
  • Available in 5 languages
  • Mobile-first and accessible across all devices
  • Fully GDPR compliant

Designed to meet WCAG 2.1 AA accessibility standards, the tool ensures a smooth and inclusive user experience for everyone. With multilingual support and local resource integration, it helps diverse populations connect with trusted support networks in their region.

While our media platforms primarily serve the B2B side of the industry, we know they’re also visited by players looking for insights and updates. That’s why it’s important for us to go beyond headlines and contribute real tools that support safer play. This assessment is one small, meaningful step toward that.” – Zoltán Tűndik, Co-Founder and Head of Business at HIPTHER.

Take the assessment today and share it with your community.
Because gambling should always be safe, informed, and fun.

Try it now on any of HIPTHER’s gaming media platforms:

By launching this tool, HIPTHER reaffirms its ongoing commitment to promoting transparency, responsibility, and player well-being in the global gaming industry. Together with our partners and audiences, we continue working toward a safer, more informed future for players everywhere.

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Latest News

Evoplay enters Peru’s lottery vertical through a partnership with Loterías Torito

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Evoplay enters Peru’s lottery vertical through a partnership with Loterías Torito

 

Evoplay, the award-winning game development studio, has partnered with Loterías Torito, one of the authorised operators of lottery games in Peru, to supply a tailored portfolio of instant win games.

The collaboration will see five of Evoplay’s most popular instant games, including Adrenaline Rush, Adrenaline Rush: Scratch, Penalty Shootout: Street, BBall Blitz, and Hockey Shootout, launch on Loterías Torito’s platform. Each title has been localised and tailored to meet the lottery’s regulatory standards and responsible gaming objectives.

Operating both online and across retail locations, Loterías Torito is a trusted name in the Peruvian lottery sector. Its blend of traditional lottery products and digital offerings makes it an ideal partner for Evoplay’s instant game portfolio, which is designed to attract a broader, mobile-first audience.

Breaking into the lottery space marks a significant achievement for Evoplay, following their strategy to expand its presence in regulated markets across Latin America, delivering localised content and tailored solutions to forward-thinking lottery operators.

Frank Cecchini, Head of Lottery at Evoplay, said: “We are immensely proud to be working with Loterías Torito. “I firmly believe our content can bridge the gap between lottery players and online gamers, helping drive revenue in a safe, responsible, and engaging way.”

José Ludeña Díaz, Director of Operations at Loterías Torito, added: “Evoplay’s games are one of a kind. They’re innovative, high-quality, and exactly what we need to appeal to new generations of players while staying true to our mission and values.”

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GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

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