FuboTV inched closer to presenting live sports betting when the Iowa Racing and Gaming Commission approved the company’s proposal.
To make it possible, FuboTV partnered with Casino Queen, which operates the Casino Queen Marquette riverboat casino. Casino Queen secured a partnership before with Vigotry then FuboTV acquired the company earlier in the year. Under Iowa regulations, online sports betting companies must have a bricks-and-mortar location where such wagers are legal or partner with a company that does, according to FierceVideo.
This marks the first time FuboTV received regulatory approval for its sportsbook proposal. The company has market agreements in four states—Arizona, Indiana, New Jersey, and Pennsylvania—but is in the process of securing approvals.
“The importance for us was about getting licensed, to be regulated, because we want to embrace regulation and have discussions with regulators,” FuboTV’s Chief Executive David Gandler said. “Their job is to create a safe environment for customers, and we believe we are in the best position to do that.”
According to its latest quarterly earnings report, FuboTV had more than 681,000 subscribers, with a projected 900,000 by year’s end.
