Fanatics comples acquisition of PointsBet US

Fanatics Betting and Gaming has launched in Illinois.

US.-  Fanatics Betting and Gaming (FBG), a subsidiary of Fanatics Holdings, has closed its acquisition of the US businesses of PointsBet in the final state, Illinois. The firm began acquiring PointsBet’s businesses in August 2023.

Fanatics said PointsBet had confirmed receipt of the final installment of the headline purchase price of $225m and has transferred the remaining entities that make up PointsBet’s US sports wagering, advance-deposit wagering and igaming operations, Banach Technology, a copy of the PointsBet platform and its licence.

By the end of April, Fanatics Betting and Gaming will be operating online in the US states of Arizona, Colorado, Connecticut, Indiana, Illinois, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia, pending regulatory approvals.

Fanatics Casino is available online in Michigan, Pennsylvania and West Virginia with New Jersey to follow. Fanatics Betting and Gaming will also provide betting operations to nineteen retail locations, including the retail sportsbook inside an NFL stadium at Commanders Field in Maryland. 

Matt King, CEO of Fanatics Betting and Gaming, said: “The acquisition of the US businesses of PointsBet has super charged our expansion plans. In addition to our migration of PointsBet customers and technology to the Fanatics Sportsbook and Casino platform, we have also added an incredibly talented team of passionate leaders from the ranks of PointsBet USA that have already made an impact on our business.” 

The company said Mark Hughes and Aonghus Mulvihill will join the executive leadership team from PointsBet USA. In addition, more than 200 PointsBet employees are joining FBG in a variety of roles.