The Fanatics Betting and Gaming (FBG) arm of sports retail giant Fanatics has agreed a deal to acquire the PointsBet US division of PointsBet Holdings for $150.0m.
Under the agreement, which remains subject to shareholder approval and certain regulatory and other conditions, PointsBet will retain both its Canadian and Australian business and operations and continue as an Australian Stock Exchange-listed company.
PointsBet will keep hold of its proprietary sports wagering, racing and igaming platform and be granted a perpetual, royalty-free licence to exploit the Banach technology assets, which were acquired by PointsBet in March 2021.
The deal also states that PointsBet will retain its teams in Australia, Canada and India, as well as its Australian-based technologists, traders and quants.
Other aspects of the deal include that PointsBet will provide services to FBG prior to the final closing of the deal and be reimbursed for the cost of these services by FBG.
In addition, the exis..
