The makeover of legal sports betting in New Jersey, as a result of the $225-million acquisition of PointsBet US operations by Fanatics, is beginning to come into focus. The leading seller of officially licenced sports products plans to launch an online sportsbook in the state in time for the imminent football season.
Fanatics Betting and Gaming unveiled on Thursday their receipt of regulatory approval and the conclusion of the PointsBet contract in eight states, amongst which New Jersey figures prominently.
Sporting enthusiasts in New Jersey are set to witness a rebranding of PointsBet Sportsbook to “PointsBet, a Fanatics Experience,” as revealed in a press announcement from the company.
Operating as the gambling department of Fanatics Holdings Inc., Fanatics Betting and Gaming was launched in 2021. Currently, the branch manages legal sports betting across 11 states, functions an online casino in four states, and conducts advance deposit wagering for horse racing in 42 states.
The other states which have granted regulatory permissions and where Fanatics has disclosed the completion of the PointsBet US purchase include Colorado, Iowa, Kansas, Maryland, Pennsylvania, Virginia, and West Virginia.
CEO of Fanatics Betting and Gaming, Matt King, expressed his excitement on the growing sports betting market scenario: “Our excitement at Fanatics Betting and Gaming for what we are building is palpable and this acquisition speeds up our plans. Our decade-long plan is centred on the customer, not on market share. We aim to pull in customers effectively, letting us revert savings to customers by financing in the customer experience at Fanatics Sportsbook and PointsBet, a Fanatics Experience.”
Presently, PointsBet will continue functioning in Illinois, Indiana, Louisiana, Michigan, New York, and Ohio until such time that Fanatics Betting and Gaming can independently close deals in those states, as per the details in the press release.
As of now, the Fanatics Sportsbook app is accessible in Maryland, Massachusetts, Ohio, and Tennessee. Fanatics Sportsbook also boasts of retail sites at professional sporting venues in cities such as Cleveland and Columbus in Ohio, and Landover in Maryland.
