fuboTV (NYSE: FUBO) is moving into a very promising corner of the sports market. The company announced on Tuesday that it has agreed to acquire sports betting and gaming specialist Vigtory. Leveraging this new asset, fuboTV said, it expects to roll out a sportsbook (i.e., sports gambling service) by the end of this year.
Neither the price nor terms of the deal have been made public.
Vigtory is a relatively new company, having been founded in 2019. Not coincidentally, that was amid a wave of legalization for sports gambling legalization throughout the U.S. That wave hasn’t yet crested, as the coronavirus pandemic has put a strain on the finances of many states; at least some of them are likely to legalize in order to bring in more tax revenue.