On five-year anniversary of floodgates opening, Fanatics buys PointsBet
Sunday was the fifth anniversary of the U.S. Supreme Court decision opening the floodgates for legalized gambling, on a state-by-state basis. Sunday was also the day on which a massive company with deep ties to the NFL and other major sports acquired an established sports book.
Via multiple reports, Fanatics will purchase the U.S. operations of PointsBet for $150 million.
Via A.J. Perez of FrontOfficeSports.com, the move will expand the Fanatics sports book footprint to 12 new states.
Fanatics has become a $31 billion behemoth, with major focus on sports merchandise. It aspires to provide all things that a sports fan craves, in one spot. Betting now becomes a potentially big part of that.
PointsBet will retain its Australian and Canadian assets.
Sports betting still has a long way to go in the U.S., especially with major states like California, Texas, and Florida not yet in play. While other states are adding billions to their bottom lines.