Fanatics announced Sunday night it agreed to purchase PointsBet’s American operations for roughly $150 million as it continues to jump head-first into legal sports betting.
PointsBet hired an investment bank to help lead its sale a couple of weeks ago and has settled on Fanatics, an online manufacturer and retailer of various sports memorabilia. However, Fanatics has been increasingly focused on growing into sports betting and now has the assets to jump-start that interest.
Fanatics will gain access to at least 15 states as part of the deal. It plans to have its operations in most of the states up-and-running in time for the NFL season kick-off.