FuboTV Plots Sportsbook Integration With Vigtory Acquisition
January 13, 2021
The sports-focused streaming service FuboTV is acquiring sports betting operator Vigtory, with plans to launch a sports betting app that will integrate with the streaming platform. Financial terms of the acquisition were not disclosed.
Vigtory, founded in 2019, hasn’t yet launched but has a deal with Casino Queen to go live in Iowa. Scott Butera, a former gaming executive at MGM Resorts International and commissioner of the Arena Football League, is co-CEO of Vigtory. The sports tech investment firm SeventySix Capital invested in Vigtory.
“The pandemic has certainly accelerated the pace of innovation and technology in sports,” Wayne Kimmel, founder of SeventySix Capital, told SportTechie. “This is a really unique transaction because of how quickly it happened. We funded [Vigtory] in December of 2019 and now we’re selling the company to a multi-billion dollar media company.”
FuboTV CEO David Gandler said in a statement: “We not only expect sports wagering to become a new line of business and source of revenue, but we also expect that it will increase user engagement on FuboTV resulting in higher ad monetization, better subscriber retention and reduced subscriber acquisition costs.”
FuboTV also plans to launch a free-to-play gaming app this summer, which is being built through its earlier acquisition of Balto. “Our free-to-play gaming experience, which will be available to all consumers, will build further scale to FuboTV, essentially acting as another lead generator for driving subscribers to our streaming video platform and, ultimately, our sportsbook,” Gandler added.