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Fanatics denies reports of revenue decline, Rubin sell-off

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Sports Betting

2024-07-27

Fanatics denies reports of revenue decline, Rubin sell-off

On Monday, a panel of judges in Boston made it clear they are likely to side with DraftKings in an ongoing legal battle between the gambling company and Fanatics.

It would turn out to be just the beginning of a brutal week for Fanatics and its billionaire founder and CEO Michael Rubin.

Earlier this year, Rubin poached Michael Hermalyn, a former senior vice president, from DraftKings; the gambling company sued in February, saying that Hermalyn had a noncompete clause in his contract and accusing him of a “secret plan” to steal business secrets from DraftKings and use them at Fanatics.

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