FuboTV reached an agreement with Caesars Entertainment on Wednesday to gain market access for its sportsbook in the states of Indiana and New Jersey.
The deal gives fubo Sportsbook access to three states, having entered Iowa in January via its acquistion of Vigtory, which had reached a deal to be the sportsbook of Casino Queen and was approved to commence operations in November 2020.
In its fourth quarter 2020 report released Wednesday, fuboTV reported more than $100 million in revenue for the first time and plans to launch its sportsbook in the fourth quarter of this year.
“We could not be more excited to bring fubo Sportsbook to market in the fourth quarter, and today’s market access licenses for Indiana and New Jersey will help us reach even more consumers at launch,” said David Gandler, co-founder and CEO, fuboTV.
Potential landing places for fubo Sportsbook
Caesars offers two horse racing tracks for fubo Sportsbook’s entry into Indiana — Indiana Grand in Shelbyville and Harrah’s Hoosier Park in Anderson. Those tracks have three off-track betting sites between them, with Harrah’s Hoosier Park operating one in downtown Indianapolis.
Eldorado Resorts, which merged with Caesars last July, made a $60 million commitment to upgrade facilities at both tracks and established a $25 million racing capital escrow fund to be spent exclusively on racing-related items over the next 10 years.
Caesars is still in the process of selling casino properties as part of the conditions set by the Indiana Gaming Commission for approval of its merger with Eldorado. It sold Tropicana Evansville to Twin River in October for $140 million and entered talks to sell Caesars Southern Indiana in December to the North Carolina-based Eastern Brand of Cherokee Indians.
The gaming giant has until the end of 2021 to find a buyer for Horseshoe Hammond, which is less than an hour’s drive from Chicago and one of the top revenue-producing casinos in Indiana. The IGC granted an extension to sell Horseshoe Hammond last year after stipulating it had to be one of the three properties sold for competitive purposes to approve the merger.
Caesars still has an online sports betting presence at Horseshoe Hammond, while Unibet serves as its second mobile skin.