Fanatics acquires PointsBet US business for $150 million

Fanatics might be known as an apparel company, but it might not be solely associated with jerseys for much longer. Today, the world’s largest sports apparel company, announced that it’s purchasing the U.S. Business of Australian-based PointsBet for $150 million.

PointsBet is currently live in Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, West Virginia, and Virginia.

“Fanatics and PointsBet are excited to enter into an agreement for Fanatics Betting and Gaming to acquire PointsBet’s U.S. business,” according to a joint statement from Fanatics and PointsBet. “While there are still several steps in the process to complete the acquisition, both parties are confident in the outcome. Fanatics Betting and Gaming and PointsBet will provide further details of the proposed deal and timely updates in the coming weeks.”