Report: Fanatics near ‘transformative’ agreement with PointsBet

Close-up of a man’s hand holding US dollars against the background of the stadium. The concept of sports betting, making a profit from betting, gambling. American football

Report: Fanatics near ‘transformative’ agreement with PointsBet

Fanatics Sportsbook is on the verge of acquiring PointsBet’s U.S. division in a move that could shake up the sports betting space, Sports Handle reported Friday.

Fanatics was in advanced negotiations to purchase the Australian sports betting operator and rights to its “PointsBetting” apparatus, per the report. It could allow Fanatics to enter some of the biggest sports betting markets in the United States in time for the 2023 NFL season.

CEO Michael Rubin told an audience at a sports business event last month that he figured Fanatics would be operating in around 12 states by next football season.

Fanatics recently launched the first retail sportsbook inside an NFL stadium when it opened its doors inside FedEx Field, the Washington Commanders’ home in Landover, MD.

Shares of PointsBet jumped by 6% on the Australian Stock Exchange, according to Sports Handle.

–Field Level Media

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