“I just want to remind everyone that the assumptions that we were under when we made this call, the cost of capital was pretty much free.” Ripe for takeover “I think it’s become apparent that we cannot go it alone, given the costs associated with driving that business to cash flow break-even,” Gandler said on the company’s 2022 second-quarter earnings call. Gandler’s candor touched on the company’s start of a comprehensive process seeking out a potential commercial partner for sports betting, as Fubo conducts a strategic review of its sportsbook division. While Fubo is not abandoning its sports betting unit altogether, CEO David Gandler emphasized last week that the streaming service can no longer conduct sports betting operations on its own. But the harsh realities of a challenging macroeconomic environment have caused Fubo to pivot. As recently as June, FuboTV appeared to be making strides with a variety of immersive betting experiences built into the company’s livestreaming product.Īt the time, Fubo Sportsbook unveiled a new predictive product under which it became the first company to offer a free sports contest that could be directly integrated into a customer’s live TV streaming capabilities.
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