Tag: Fanatics

Fanatics completes PointsBet deal in eight US states

Fanatics Betting and Gaming (FBG) has closed on the first eight states in its previously announced acquisition of PointsBet’s US business.

Following regulatory approvals, the deal has now completed in major markets such as New Jersey and Pennsylvania. FBG has also completed in Colorado, Iowa, Kansas, Maryland, Virginia and West Virginia.

PointsBet confirmed that the Fanatics subsidiary has now paid the initial instalment of $175m of the $225m headline purchase price. The price was agreed in June 2023.

From today, customers in each of the eight states will see PointsBet rebranded to “PointsBet, a Fanatics Experience”. The rebrand will complete in Indiana and Illinois in the coming months.

PointsBet USA will continue to operate in Illinois, Indiana, Louisiana, Michigan, New York and Ohio. This will be until Fanatics is able to close on selected states individually.

“We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans,” ..

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Fanatics expands retail network with new Columbus sportsbook

Fanatics Betting and Gaming (FBG) has announced the opening of its latest retail sportsbook in the Arena District of Columbus, Ohio.

The venue is operating in partnership with National Hockey League franchise the Columbus Blue Jackets. The sportsbook is located near to the team’s Nationwide Arena home.

On-site facilities include four betting windows, 14 self-service betting kiosks, a giant LED video wall and 20 TV monitors. Customers can place bets on a range of major sports such as football, basketball, hockey and baseball.

“A great day to be a Buckeye at the Fanatics Sportsbook Columbus”

At a special opening event held yesterday (24 August), Ohio sports legends former NFL star Ryan Shazier and long-time Blue Jackets player RJ Umberger placed the ceremonial first bets at the new sportsbook.

The launch comes a month after FBG announced its partnership with the NHL team.

“It was a great day to be a Buckeye at the Fanatics Sportsbook Columbus,” FBG chief business officer Ari Borod ..

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Fanatics partners Guardians to open first MLB ballpark sportsbook

Fanatics Betting and Gaming (FBG) has opened a new retail sportsbook at the Cleveland Guardians’ Progressive Field, its first facility at a Major League Baseball (MLB) ballpark.

The Fanatics sportsbook features two betting windows, four self-service betting kiosks and seven TV monitors. Consumers can bet on MLB games as well as other major sports such as hockey, basketball, baseball, tennis, soccer and golf.

Progressive Field is located in downtown Cleveland, Ohio, and has a capacity of more than 38,000.

“We’re very excited to partner with FBG to bring a retail sportsbook location outside Progressive Field,” Guardians’ vice-president of corporate and premium partnerships, Ted Baugh, said. “This will provide our fans a very convenient in-person option to place bets.”

Fanatics retail sportsbook complements online

The retail facility comes after FBG last week launched its online sportsbook in a number of states.

Fanatics’ online sportsbook is live in Maryland, Massachusetts and Tenn..

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Fanatics launches online sportsbook in four states

The latest challenger to the US online sports betting market, Fanatics Betting and Gaming (FBG), has launched its online sportsbook in Maryland, Massachusetts, Ohio and Tennessee.

After six months of beta testing, the Fanatics Sportsbook is now available to download on iOS and Android.

FBG highlights the new platform’s simplified betting and transparent withdrawals as features that will help it appeal to sports fans.

The sportsbook includes live scores, plus lines and odds for teams and athletes. Also included are moneyline bets, spread bets, over-unders, player props, live-in-game betting markets and same-game parlays.

Fanatics bets on product quality

“After six months of beta testing, we are excited to officially launch the Fanatics Sportsbook product to the public,” said FBG chief product officer Scot McClintic.

the fanatics sportsbook

McClintic also pointed to the business’ extended focus on product quality as key to its strategy.

“We are laser focused on solving pain poi..

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DraftKings enters race to acquire PointsBet US

DraftKings is looking to outbid Fanatics for PointsBet US, prompting a strong reaction from the ecommerce giant's CEO Michael Rubin.

Tabled today (16 June) – weeks after Fanatics announced plans to acquire the business – the unsolicited non-binding indicative proposal is worth $195.0m (£152.2m/€178.5m). It states DraftKings would purchase the business on a debt-free, cash-free basis with no financing conditions.

PointsBet said its board will now assess the proposal. The group added that the proposal does not constitute a binding offer or commitment from DraftKings to place a firm bid.

The group did not set a date as to when a decision would be reached.

Fanatics’ Rubin: “They are trying to block us”

Responding to news of the DraftKings proposal, Fanatics CEO Rubin said he was “skeptical” of the move. He added that it was a “desperate” attempt to slow progress on Fanatics’ own deal with PointsBet.

“We are skeptical of the DraftKings proposal, which seems like a desperate move ..

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Fanatics’ Matt King brings new thinking to US sports betting

As CEO of FanDuel, Matt King took a daily fantasy sports brand to the top of the US sports betting industry, and in the top job at Fanatics Betting and Gaming he’s looking to do it all over again. Not that he’s looking to emulate his former employers in leading the ecommerce giant; it’s Spotify that inspires him.

For Fanatics Betting and Gaming chief executive Matt King, the challenge he is taking on isn’t building a market leader. He’s already done that during his tenure at FanDuel, which is currently sitting with a seemingly unassailable market share across the US. Revenue there grew from $200m to over $1bn on his watch.

And his core goal isn’t to build an entity capable of taking on a behemoth he created. Instead the billion-dollar question is: how do you create something capable of providing a genuine alternative to consumers?

In a market dominated by iTunes, he’s looking to build Spotify.

Fanatics: Officially licensed everything

What separates Fanatics Betting and Gaming f..

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Fanatics Betting and Gaming to acquire PointsBet US

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..

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Fanatics opens first retail sportsbook inside NFL stadium

The Fanatics Betting and Gaming arm of sports apparel giant Fanatics has become the first sports wagering operator to open a retail sportsbook inside a National Football League (NFL) stadium.

Located at FedExField in Maryland, the home of NFL team the Washington Commanders, the facility also marks Fanatics’ first venture into the sports betting market, as well as its entrance into the state of Maryland, with the Commanders as its market access partner.

The 5,000sq ft venue features eight betting windows, 21 self-service betting kiosks, two LED video walls, 38 TV monitors and a full-service restaurant. Customers will be able to place bets on a wide range of major sports events at the facility.

Read the full story on iGB North America

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Fanatics secures sports betting approval in Massachusetts

The Massachusetts Gaming Commission (MGC) has voted to approve sports apparel giant Fanatics for a temporary sports betting operator licence, while the regulator also appointed Bruce Band to lead its new sports betting division.

Commissioners voted unanimously to approve Fanatics for a Category 3 sports betting operator licence, which will be tethered to Plainridge Park Casino’s Category 1 sports wagering licence.

However, Fanatics will need to undergo a full suitability review by the MGC’s Investigations and Enforcement Bureau. After this, Fanatics will also need to obtain an operations certificate and meet additional conditions to begin accepting sports wagers.

Read the full story on iGB North America

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Fanatics hires Brandt Iden as VP of government affairs

Fanatics Betting and Gaming has hired former Michigan legislator Brandt Iden as its new vice-president of government affairs, as the business edges closer to launching its betting product.

Iden was elected to the Michigan House of Representatives in 2014, until 2020 when he reached the state term limit. During this time he spearheaded the efforts to legalise both sports betting and online casino gaming in the state.

He then joined Sportradar, where he was head of government affairs during a period in which the business went public on the Nasdaq exchange.

Now, he joins Fanatics ahead of the apparel brand’s long-rumoured launch of a sports betting operation.

Read the full story on iGB North America

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High school Spire Institute among Ohio betting licence applicants

A number of new organisations have applied for Ohio sports betting licences, including Bet365 and Tipico as online providers, and high school Spire Institute – alongside a number of professional sports teams – for a proprietor licence.

Spire Institute is an Ohio sports-focused high school, with its athletic programs attracting top recruits including basketball star LaMelo Ball. The organisation also offers a general sporting development programs and operates sporting complexes on its grounds, outside of its presence as a high school.

Under Ohio’s sports betting laws, sporting organisations or land-based gaming venues may offer betting in the state, partnering with online operators for an online product.

It has partnered with Out the Gate, a startup sports betting operator that says it uses an in-house trading solution and plans to accept “all action” with lined that “lead the market on US sports”. Out the Gate is led by Christopher Kape and Robbie Manis, formerly of data provider Do..

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