Fanatics to buy PointsBet’s U.S. business for $150M


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. 

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.