Fanatics Betting and Gaming closed its acquisition of PointsBet in eight states. This marks the beginning of rebranding for these respective markets.
PointsBet shareholders unanimously agreed on a $225m sales of its US assets to Fanatics – sports betting, advance deposit wagering and Banachtechnology.
Three different products are available depending on where you live: Fanatics Sportbook; PointsBet a Fanatics Experience and PointsBet casino.
These products will continue to be available in the existing Fanatics states – Ohio Massachusetts Tennessee and Maryland.
Maryland has a PointsBet Sportsbook that will be rebranded as ‘PointsBet – a Fanatics Experience,’ and will remain on the PointsBet Platform. Both products will continue to be available in Maryland for the time being.
The ‘PointsBet, a Fanatics Experience,’ transformation will take place also in Colorado, Iowa, Kansas, New Jersey, Pennsylvania, Virginia, and West Virginia.
PointsBet Casino will continue to operate in New Jersey and West Virginia. However, the technology of the platform as well as Banach Technology’s risk management platform will be integrated into Fanatics’ Amelco powered product in the near future.
Matt King commented on the acquisition: “We’re excited about our plans at Fanatics Betting and Gaming and we believe this acquisition will accelerate them.”
We have a 10-year plan that is focused on the customer, not the market share. We will acquire customers efficiently and return savings to our customers by investing in their Fanatics Sportsbook experience.
Six states, including Indiana, Illinois Louisiana Michigan, New York, and Ohio, will continue to be known as PointsBet Sportsbook until the switchover occurs. Johnny Aitken will continue to be the CEO of PointsBet US.
