Fanatics Betting and Gaming has closed on the first eight states in its previously announced acquisition of PointsBet’s US business.
US.- Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings, has closed its previously announced acquisition of the US businesses of PointsBet USA in eight states, Following regulatory approvals, Fanatics Betting and Gaming has acquired PointsBet USA in Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia.
In May, Fanatics entered into a deal to purchase the US business of Australia’s PointsBet for $150m. As well as the eight states where the deal has closed, PointsBet is also live in Illinois, Indiana, Kansas, Louisiana, Michigan, New York, Ohio. As each state becomes part of Fanatics Betting and Gaming, customers will see PointsBet rebranded to “PointsBet, a Fanatics Experience.”
In Indiana and Illinois PointsBet will be rebranded to “PointsBet, a Fanatics Experience” in the coming months, but the operating businesses will continue to be operated by PointsBet USA interruption until Fanatics Betting and Games closes those states.
Matt King, CEO of Fanatics Betting and Gaming, said: “We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans. We have a ten-year plan that focuses on the customer and not market share. We are going to acquire customers efficiently, allowing us to return savings to customers by investing in the customer experience at Fanatics Sportsbook and PointsBet, a Fanatics Experience.”
In August, Fanatics Betting and Gaming launched the Fanatics Sportsbook online in Maryland, Massachusetts, Ohio and Tennessee.