Fanatics completes PointsBet US acquisition

Fanatics Betting and Gaming (FBG) has completed its acquisition of PointsBet’s online betting and gaming business in the United States.

The deal was agreed in June 2023 and gives FBG control of PointsBet’s sports betting, advance-deposit wagering and iGaming operations in the US, as well as its Banach Technology subsidiary, a copy of the PointsBet platform, and a license to use the proprietary platform.  

The $225 million acquisition accelerates FBG’s growth in the US by giving it access to 95 per cent of the addressable online sports betting market, with the company planning to be operating in 20 states by the end of this month.

Fanatics Casino is currently available online in Michigan, Pennsylvania and West Virginia, with New Jersey to follow.

“The acquisition of the US businesses of PointsBet has super charged our expansion plans,” said Matt King, CEO of Fanatics Betting and Gaming.  

“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.”