Benzinga | Jul 16, 2021 07:54AM EDT

FuboTV Shares Surge After Securing Market Access Agreement For Fubo Sportsbook In Pennsylvania

* FuboTV Inc (NYSE:FUBO) subsidiary Fubo Gaming and The Cordish Companies completed a market access agreement for the forthcoming mobile Fubo Sportsbook in Pennsylvania.

* Fubo Gaming's agreement with The Cordish Companies, owner and operator of Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh, offers state-wide mobile access for both sports betting and iGaming.

* Entering Pennsylvania, one of the largest sports betting and iGaming makers in the U.S., is a significant accomplishment for the forthcoming Fubo Sportsbook, which, in this market, can also include mobile casino games, Fubo Gaming President Scott Butera said.

* This agreement to bring Fubo Sportsbook to consumers in Pennsylvania expands sportsbook's reach to at least four states, adding to previously announced market access agreements in New Jersey, Indiana, and Iowa.

* It plans to launch Fubo Sportsbook state-by-state in Q4 of 2021, pending regulatory approvals.

* Price action: FUBO shares traded higher by 4.59% at $26.87 in the premarket session on the last check Friday.