Fanatics has reached an agreement to purchase PointsBet’s U.S. business, according to someone familiar with the deal, a $150 million deal that will accelerate the company’s own push into U.S. sports betting.
The move comes just a few weeks after Fanatics formally launched its new online sportsbook in Tennessee and Ohio. The PointsBet deal will give Michael Rubin’s company additional technology and trading capabilities, as well as valuable market access in a handful of new states.
A representative for Fanatics declined to comment, as did a representative for PointsBet.
Fanatics Betting & Gaming has been one of the most anticipated sportsbook debuts in the five years since the U.S. Supreme Court struck down the federal ban on sports wagering.