Fanatics Betting and Gaming completed the takeover of PointsBet US operations by going live in New Jersey.
Fanatics now operates in the 20 states that PointsBet operated before its acquisition. According to the group, its new entry will allow it to offer its sportsbook in approximately 95% percent of US online markets.
Fanatics completed its acquisition of PointsBet’s US operations for $225m (PS178.2m/EUR207.0m), which was agreed upon last year, in April 2024.
Fanatics announced that the user names, passwords and account balances of New Jersey PointsBet customers, as well as their settings for responsible gambling, reward points, and rewards, will automatically be migrated over to Fanatics Sportsbook.
New Jersey has also become the fourth online gambling state. This platform offers a variety of popular and classic casino games like slots and roulette.
Fanatics Sportsbook has already been launched in Arizona, Colorado Connecticut, Illinois Indiana Iowa Kansas Kentucky Maryland Massachusetts Michigan New York North Carolina Ohio Pennsylvania Tennessee Vermont Virginia West Virginia
Fanatics Casino can be played online in Michigan as well as Pennsylvania and West Virginia.
Fanatics has 19 retail outlets, including sportsbooks located outside of Nationwide Arena at Progressive Field as well as Commanders Field.
Fanatics acquires PointsBet US business
After a bid war, the operator offered $225 million to buy PointsBet US by June 2023. In May, the company reached an agreement with PointsBet for its US operation to be acquired by it. Shareholders were to vote at their meeting of 30 June on whether to accept this offer.
In June however, it was revealed that DraftKings submitted a proposal for $195.0m. PointsBet announced that it was willing to engage DraftKings in order to discuss what they believed would be an “improved” offer. DraftKings confirmed that, upon confirmation of an improved offer it had made to PointsBet US, they would not pursue the deal.
In the past year, Fanatics took over PointsBet’s operations in all the states where it operated. It took over PointsBet operations in Kansas last month, and also rolled out in North Carolina as the state launched its official sports betting market.
