Based on how you read the tea leaves of PointsBet’s latest earnings report, Fanatics Betting and Gaming might be taking over that company’s United States operations at a perfect time. Another reading is that the data PointsBet shared is insufficient to show whether Fanatics is taking over a product with an upward trajectory.
PointsBet reported several positive metrics relative to its US business in the final quarter of its 2023 fiscal year. Fanatics faces many decisions on how to proceed once it takes the reins, though.
According to an investor presentation from PointsBet, the final quarter of its FY23 was a solid one for its US online gambling products. Most notably, net win from its online casino product came to $12.6 million. That represents an increase of 89% compared to the net win of $6.7 million in Q4 FY22.
