The brief fight over the future of PointsBet’s U.S. business appears to be done, after Fanatics submitted a revised $225 million offer, a 50% increase over its original proposal.
The cash offer was “unanimously recommended” by the PointsBet board, according to a statement released on Tuesday evening ET. DraftKings, which recently submitted a non-binding offer that it said was superior to Fanatics’ original bid, was “unable” to finalize a binding offer before Tuesday’s deadline, according to the statement.
The PointsBet board believes the new Fanatics proposal is “superior in terms of both pricing and certainty of being able to complete on a timely basis,” the statement said.
