Fanatics seals the deal on PointsBet assets in eight states

Fanatics Bettingand Gaming has finalized the acquisition of PointsBet USA assets in eight US states, rebranding the existing operations to "PointsBet, a Fanatics Experience" as the company, which is a subsidiary of sports apparel Fanatics Holdings Inc, is looking to make its presence in sports betting and gaming space felt.

The first round of acquisitions-slash-rebrandings comes shortly after PointsBet shareholders voted in a favor of a $225 million deal to sell the US assets of the sportsbook to Fanatics. The price tag was a significant increase from the originally tabled offer, which had to be increased because of a brief bidding war between Fanatics and DraftKings,

Fanatics is now able to proceed with its plans for PointsBet, as the company has secured all necessary regulatory approvals, and the portfolio is now moving under the Fanatics roof in Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia, the company announced in an official press release.

More rebrandings such as these are coming, Fanatics assures, as Illinois and Indiana will be next, although no specific date has been set just yet. All changes are carried out without disruption to the customer experience.

Commenting on this opportunity, Fanatics Betting and Gaming CEO Matt King has hailed the company’s launches and what it means for the Fanatics brand as a whole. The company is looking into the future as it already has a ten-year plan in place, firmly focused on what is to come next:

"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."

Sports betting is not the only product that Fanatics is keen to expand into, as the company is also going to make full good use of the PointsBet iGaming platform, which already allows it to continue and operate online casino products in four states.

Fanatics is also looking to bring PointsBet customers into the fold by onboarding them with the Fanatics loyalty experiences, and calibrating the sports betting and apparel options so they are a natural continuation of each other. How exactly this will happen will be a matter of subtle navigation by Fanatics, which has room for mammoth synergies between its different divisions.

In the meantime, with the start of the National Football League (NFL) season looming, Fanatics is readying to meet the betting action with 11 legal sports betting states.

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