Fanatics and PointsBet released a joint statement on Sunday announcing that the sports merchandising business agreeing to pay $150 million for the gaming company’s U.S. sports betting assets.
After spending several years attempting to enter the sports wagering business, Fanatics looks to make a splash in the 15 states, including the PA sports betting market, that PointsBet currently operates within. According to reports, Fanatics hopes to take over PointsBet’s assets by the beginning of the lucrative NFL season.
“Fanatics and PointsBet are excited to enter into an agreement for Fanatics Betting and Gaming to acquire PointsBet’s U.S. business. While there are still several steps in the process to complete the acquisition, both parties are confident in the outcome,” the companies said in their joint statement. “Fanatics Betting and Gaming and PointsBet will provide further details of the proposed deal and timely updates in the coming weeks.”
A joint statement from Fanatics Betting & Gaming and PointsBet: pic.twitter.com/4sNAWzUmp5— PointsBet Communications (@PB_Comms) May 15, 2023