FBG or Fanatics Betting and Gaming is a subsidiary of Fanatics Holdings. It has closed its acquisition of the US businesses of PointsBet in Illinois, which is the final state. In August 2023, the firm began acquiring PointsBet’s businesses.
Receipt of the final installment of the headline purchase price of $225 million has been confirmed by Fanatics. It has transferred the remaining entities that make up PointBet’s United States sports wagering, advance-deposit wagering and iGaming operations with a copy of PointsBet platform and its license. This is Banach Technology.
Fanatics Betting and Gaming will be operating online with pending approval in the United States of Arizona, Colorado, Connecticut, Indiana, Illinois, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia by the end of April.
Fanatics Casino is available online in Michigan, Pennsylvania, and West Virginia with New Jersey to follow. Betting operations to nineteen retail locations will also be provided by Fanatics Betting and Gaming. It will also provide betting operations to nineteen retail locations. This includes retail sportsbook inside an NFL stadium at Maryland’s Commanders Field.
Matt King is the CEO of Fanatics Betting and Gaming. He said the acquisition of the United States businesses of PointsBet has super charged our expansion plans. In addition to their migration of PointsBet customers and technology to the Fanatics Sportsbook and Casino platform. They have also added an incredibly talented team of passionate leaders from the ranks of PointsBet USA that have already made an impact on their business.
According to the company, Mark Hughes and Aonghus Mulvihill will join the executive leadership team from PointsBet USA. Moreover, more than 200 PointsBet employees are joining FBG in a diversity of roles.