Reportedly, Fanatics is in Talks to Acquire PointsBet USA
According to reports, Fanatics Sportsbook is in talks to acquire the US business of Australian sportsbook operator PointsBet. The acquisition would include PointsBet’s innovative “PointsBetting” apparatus. Sources claim that negotiations are ongoing and that a deal could be announced as early as next week. The acquisition would be a significant step for Fanatics in achieving its goal of gaining market access in 12 US jurisdictions with legalized sports betting by the 2023 NFL season. PointsBet has market access in 14 states, including major sports wagering jurisdictions such as New York, Illinois, New Jersey, Michigan, and Pennsylvania. The operator has faced problems in the US online sports wagering space due to intense competition from DraftKings, FanDuel, and BetMGM. PointsBet hired a financial advisory services firm in April to seek a buyer for its US business and later stated its intent to divest its US and North American business. Fanatics Sportsbook launched its mobile app in Tennessee and Ohio on May 1 and is eyeing a June launch of its mobile app in Massachusetts.