Fanatics CEO Michael Rubin said in a CNBC interview that he expects sports betting to account for 40% of the company’s profits — or “several hundred million dollars” — by 2027.
Fanatics’ corporate umbrella comprises a sprawling sports apparel and trading card business whose revenue in 2024 grew 15% to $8.1 billion. The company is also the official uniform provider of the National Hockey League. The company has a $31 billion valuation.
But even with its trading card business showing massive growth, Rubin said that Fanatics Sportsbook & Casino is in position to become profitable by 2027 after its 2023 acquisition of PointsBet’s United States assets is off the books. The deal closed last year.
