Fanatics Acquires Remaining US Assets of PointsBet in $225 Million Deal
Lina Almans
09 April 2024
Comment 0
Fanatics, the sports merchandise giant, has successfully acquired the American assets of Australian bookmaker PointsBet. The deal, according to Vegas Slots Online, is valued at an estimated $225 million.
The process of transferring PointsBet’s assets to Fanatics began in June 2023 and was finalized last week with the handover of PointsBet’s remaining assets in Illinois.
PointsBet confirmed the receipt of the full payment for the sale of its American operations to Fanatics.
Within Fanatics, a company known for its wide range of sports goods, a new division has been established – Fanatics Betting and Gaming. This division will now manage the newly acquired PointsBet assets and operate under the Fanatics Sportsbook and Casino brand.
With the acquisition of PointsBet, Fanatics is expected to accept bets in 20 US states, including New York and New Jersey, by the end of April.
News about Fanatics’ acquisition of PointsBet’s American assets first broke in May of the previous year. Initially, the deal was pegged at $150 million. However, with DraftKings entering the fray to acquire PointsBet, Fanatics upped its offer to $225 million.
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