FuboTV hasn’t fully closed the door on gaming just yet, as the firm explained in a letter to its shareholders that it is “exploring ways to optimize” its user base in the gaming space without investing its own funds.
In an update before the release of its third-quarter financial statement, FuboTV confirmed the closure of its Fubo Gaming subsidiary, terminating its Fubo Sportsbook operations due to problems with funding requirements.
Addressing its shareholders following the release of its Q3 results, the firm explained that ceasing its gaming operations is part of its profitability goals, but it still believes in the integration of gaming and live sports streaming.
Fubo said in its shareholders’ letter: “Our decision to close the Fubo Gaming business and cease operation of our owned-and-operated Fubo Sportsbook was made in support of our profitability goals.
“But, as we continue to focus on data and interactivity to differentiate our virtual MVPD, we still believe the integration of gaming and live sports streaming is powerful.
“As a result, we are exploring ways to optimize our user base in the gaming space without investing our own funds.”
Before ceasing operations, Fubo Sportsbook was operational in three US states – New Jersey, Arizona, and Iowa.
