Sunday September 24, 2023
The Best Employers in Sports Survey is Now Open!

Fanatics Agrees to Pay $150M to Acquire PointsBet’s U.S. Assets

  • Once the deal is finalized, Fanatics will be able to operate in a dozen more states.
  • PointsBet retains its business units in Australia and Canada.
PointsBet Fanatics
PointsBet Fanatics
Front Office Sports Today

How Rupert Murdoch Changed Sports Media Forever

As he steps down as chair of Fox and News Corp., we discuss his monumental and ongoing impact.
Listen Now
September 22, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

Fanatics’ aim to launch sports betting in a dozen states by the start of the NFL regular season got a boost Sunday night. 

Fanatics is paying $150 million cash to acquire PointsBet’s U.S. operations, the companies announced in a joint statement. The move — which will require approvals by PointsBet shareholders at the end of June and by regulators — will eventually give Fanatics a dozen states where it doesn’t operate now. 

“While there are still several steps in the process to complete the acquisition, both parties are confident in the outcome,” PointsBet and Fanatics said. 

PointsBet will retain its Australian and Canadian operations. The company hired an investment firm last month to explore a sale of the assets Fanatics agreed to acquire. 

Fanatics Betting and Gaming’s app is currently in a wide beta in Tennessee and Ohio. It is expected to roll out mobile gaming in Maryland — where it launched the first sportsbook inside an NFL stadium at the Commanders’ FedEx Field earlier this year — and Massachusetts in the coming weeks. 

Fanatics, a private company valued at $31 billion, won’t just take over PointsBet’s states. Still, the sports merchandise manufacturer and retailing giant also gets risk management and trading software in the deal.

Once the transaction becomes final, it’s expected that Fanatics will integrate that tech — including code from PointsBet’s 2021 acquisition of Banach Technology — into its betting app. Until then, the PointsBet app will remain operational. 

PointsBet’s commercial commitments with NBCUniversal will be transferred to Fanatics as part of the deal, according to the joint statement. 

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Ottawa-Senators

Andlauer Completes Record $950M Senators Acquisition

Long-awaited pact follows three months of due diligence, league review

FIFA, Kroenke Clash Over SoFi Stadium's World Cup Revenue Sharing

SoFi Stadium's hosting of World Cup matches may be in jeopardy.

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
podcast thumbnail mobile
Front Office Sports Today

How Rupert Murdoch Changed Sports Media Forever

0:00
0:00

Featured Today

Deion Sanders with The Rock on ESPN's "College GameDay."

Deion Sanders Generated $45M In Earned Media For Colorado

From Sept.1-22, Sanders generated $45.7M for the public university.
September 23, 2023

Up Next For College Football Playoffs: More Change, Money, And ... Streaming?

Many changes are coming to the CFP when it expands to 12 teams.
September 22, 2023

Warriors Stake Reportedly Up For Sale at $7B Valuation

A 10% stake in the franchise could cost $700 million.
September 22, 2023

Jaguars Threaten Move Without $1B From Jacksonville Taxpayers

The Jagaurs are hoping to renovate TIAA Bank Field for $2 billion.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
Minnesota Vikings wide receiver Justin Jefferson fumbles the ball out of bounds in the end zone while being tackled by Philadelphia Eagles safety Terrell Edmunds during the second quarter at Lincoln Financial Field.

NFL Survivor Pools Remain Relevant in the Legal Sports Betting Era

Survivor’s appeal comes from its uncomplicated premise.
Colorado Buffaloes running back Dylan Edwards reaches for the ball past Nebraska Cornhuskers cornerback Deshon Singleton in the third quarter at Folsom Field.
September 14, 2023

Sportsbooks Are Content With Bettors ‘Embracing’ Colorado Hype

Heading into Week 3 and longer-term, the books aren’t sweating it.
DraftKings
September 7, 2023

NFL Season Start Heightens Sportsbook Battle For Customers

Sportsbooks get aggressive with promotions to attract new bettors
Iowa State quarterback Hunter Dekkers throws the ball during the Cy-Hawk Series football game against Iowa.
September 7, 2023

Five Plead Guilty in State Betting Probe Ahead of Iowa-Iowa State Game

The current and former players pleaded guilty to lesser charges.
An overall view as Kansas City Chiefs quarterback Patrick Mahomes throws a pass against the Las Vegas Raiders in the first half at Allegiant Stadium.
September 6, 2023

Record 73.5 Million Americans Projected to Bet On 2023 NFL Season

About 28% of American adults plan to bet on the NFL.
The UAE could become the first Gulf state to legalize casinos.
September 6, 2023

UAE Forms Gaming Authority as Sports Flock to the Middle East

Former MGM Resorts CEO Jim Murren will head the new gaming authority.
The PPA Tour has become the first pro pickleball organization to offer legalized betting
August 24, 2023

You Can Now Bet on Pickleball

FanDuel is the first U.S. sportsbook to offer pickleball betting.
August 17, 2023

Fanatics Sportsbook Rolls Out Unique Strategy In Four States

Company will face uphill climb to challenge established market duopoly