• Loading stock data...
Sunday, July 6, 2025

DraftKings Makes Surprise $195M Bid for PointsBet U.S. Assets

  • Unsolicited offer looks to scuttle Fanatics’ $150 million deal.
  • Bid reflects ongoing market competition, maturation in U.S. sports betting.
Alex Gould/The Republic

Market competition in the still-developing U.S. sports betting market has heightened dramatically as DraftKings has made a surprise bid for the American assets of PointsBet.

The Massachusetts-based DraftKings has submitted a $195 million, all-cash, and unsolicited bid for PointsBet’s U.S. operations, seeking to supplant the $150 million deal Fanatics made for that company a month ago.

DraftKings — looking to outflank the oncoming market threat from well-capitalized Fanatics — argues that not only is it offering to pay a 30% premium, but that its bid offers a shorter path for regulatory approvals, greater market synergies, and simpler deal terms. 

“We strongly believe that a successful transaction on the basis of our indicative offer represents a truly compelling opportunity for all parties involved and would be in the best interests of PointsBet,” wrote DraftKings chairman and CEO Jason Robins in a letter to PointsBet.

Fanatics, however, blasted the offer as a “desperate” attempt by DrafKings to scuttle the prior deal.

“We are skeptical of the DraftKings proposal which seems like a desperate move to slow down Fanatics and PointsBet from completing a deal,” said Michael Rubin, Fanatics’ CEO, in a statement. “They are using the majority of their projected year-end cash just to try to block us.”

PointsBet said in a note to investors that the DraftKings offer will be considered, but that for now, “subject to the outcome of the review being undertaken of the DraftKings proposal, the board continues to recommend that shareholders vote in favor of the [Fanatics] transaction” at a meeting set for June 30.

The DraftKings move arrives as the entire U.S. sports betting market continues to grow and mature.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
Dec 29, 2024; Philadelphia, Pennsylvania, USA; Dallas Cowboys quarterback Cooper Rush (10) passes the ball against the Philadelphia Eagles during the first quarter at Lincoln Financial Field.

California AG Says Daily Fantasy Sports Are Illegal

The AG rejected arguments that DFS are games of skill, not chance.

Featured Today

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Seattle Rough & Tumble
June 28, 2025

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.
June 27, 2025

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) throws a pitch during the first inning against the Cincinnati Reds at Progressive Field.

Guardians Pitcher Luis Ortiz Put on Paid Leave Amid MLB Probe

Reports say the investigation is tied to gambling.
Mar 15, 2025; Detroit, Michigan, USA; Detroit Pistons guard Malik Beasley (5) celebrates in the first half against the Oklahoma City Thunder at Little Caesars Arena.
June 30, 2025

Malik Beasley Is Latest Betting-Related Headache for NBA

It’s the third NBA betting scandal in the last year-and-a-half.
Jun 19, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard Andrew Nembhard (2) drives to the basket against Oklahoma City Thunder forward Chet Holmgren (7) during the third quarter during game six of the 2025 NBA Finals at Gainbridge Fieldhouse.
July 1, 2025

‘Existential Threat’: Underdog Sports Sues to Stop AG’s Fantasy Sports Opinion

The California AG is expected to release his opinion by Thursday.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
Quincy Taylor
June 17, 2025

Several Americans Banned in British Basketball Game-Fixing Scandal

Five former Surrey Scorchers players were hit with lengthy gambling suspensions.
Mar 30, 2025; Spokane, WA, USA; LSU Lady Tigers guard Flau'Jae Johnson (4) shoots against UCLA Bruins center Lauren Betts (51) during the second half of a Elite 8 NCAA Tournament basketball game at Spokane Arena.
June 17, 2025

Louisiana Sports Betting Set to Aid LSU and Other State Schools

Louisiana lawmakers have been creative in finding state money for NIL.
A view of the FanDuel Sportsbook betting area at Belterra Park Cincinnati.
exclusive
June 13, 2025

FanDuel, Kalshi Have Discussed a Deal

Could FanDuel take an equity stake in Kalshi?
Fanduel
June 10, 2025

FanDuel, DraftKings Add Illinois Transaction Fee in Response to New Tax

FanDuel will charge 50 cents per bet starting Sept. 1.