“Fanatics Eyeing PointsBet USA Acquisition”,

Fanatics Reportedly in Negotiations to Acquire PointsBet USA

Fanatics Sportsbook, a popular sports merchandise brand, is reportedly in talks to acquire the US business of Australian sportsbook operator, PointsBet. According to sources, negotiations are ongoing and there is a high chance that a deal could be announced soon. The acquisition of PointsBet, which has market access in 14 states and an in-house tech stack, will be a major step for Fanatics in its objective to gain market access in 12 US jurisdictions with legalized sports betting by the 2023 NFL season. The rumors of a possible deal for PointsBet’s US business surfaced in 2021, following the withdrawal of the operator from launching its dedicated app in Massachusetts due to intense competition in the US online sports wagering space. PointsBet also suffered from industry setbacks, including terminating betting partnerships with universities and becoming embroiled in a crypto phishing scam. As for Fanatics Sportsbook, it became operational in its second and third US jurisdiction on May 1 and is eyeing a June launch of its mobile app in Massachusetts.