top of page

Fanatics’ Purchase of PointsBet U.S. Operations Overwhelmingly Approved

Jun 30, 2023

PointsBet shareholders approved by a near-unanimous margin Fanatics’ $225 million acquisition of its U.S. business, an action Fanatics called “a pivotal moment” in the development of its sports betting business.

The deal, following a decisive move by Fanatics to raise its initial bid, gained 99.2% approval from more than 195.5 million votes cast early Friday in Australia. PointsBet chairman Brett Paton in an address to shareholders said Fanatics is well poised to challenge a FanDuel-DraftKings duopoly in U.S. sports betting given the Michael Rubin-led company’s “strong brand and an extensive sports customer base with a fanatical interest in sports.”

“Fanatics identified in PointsBet many of the attributes needed to be successful in entering the online market,” Paton said.

Source: Front Office Sports

bottom of page