Fanatics is in talks to buy sports betting company Tipico, sources say

Fanatics is in talks to buy sports betting company Tipico, sources say

Article brief provided by CNBC
  • Alex Sherman and Jessica Golden, CNBC
June 23, 2022 10:36 PM
  • Alex Sherman and Jessica Golden, CNBC

    Fanatics, the sports merchandising company, is in talks to acquire sports betting company Tipico, according to two people familiar with the matter.

    A deal hasn’t yet been reached, and the two sides are currently at an impasse on price, though talks are ongoing, said the people, who asked not to be named because the discussions are private.

    Tipico has a small U.S. sports gambling business, with licenses in New Jersey and Colorado, but is the leading sports betting provider in Germany, according to its website…

    Fanatics has completed several acquisitions in recent years as a closely held company. In 2020, it acquired sports merchandise manufacturer WinCraft, and earlier this year it bought trading card company Topps for $500 million.