Fanatics’ purchase of PointsBet last summer has seen the company subsume all PointsBet’s customers and markets after its New Jersey launch on May 8th, transitioning those accounts to its mobile sports betting and online casino app.
Takeover Complete
There will be no more reference to “PointsBet, A Fanatics Experience” as the metamorphosis from PointsBet to Fanatics is officially complete. New Jersey was the last market in which Fanatics had not fully migrated PointsBet customers to its platform but after clearing all regulatory hurdles, New Jersey is now a Fanatics territory in both online sports betting and iGaming.
Fanatics Betting & Gaming now has a mobile sportsbook presence in 20 states while operating its online casino gambling platform in four of the seven that are currently available including Michigan, Pennsylvania, West Virginia, and now New Jersey. Fanatics has invested time and money into improving its online casino app and is now featuring live dealer games operated by Evolution as well as a library of slot titles from highly respected studios like Light & Wonder, IGT, as well as its own Fanatics Game Studios.
Big Move for Fanatics
The purchase of PointsBet’s U.S. assets for $225 million last year proved to be a prescient decision as the company established a much quicker foothold in those markets than it could have had if it started from scratch.
“We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans,” said Fanatics CEO Matt King last year. “We have a 10-year plan that focuses on the customer and not market share.”
It appears the Fanatics game plan is well ahead of schedule as the corporate brass can now focus on competing with the duopoly of FanDuel and DraftKings. The immersion of the brand into 95% of the available markets allows management to shift its attention from effectuating a seamless transition into new markets and migrating PointsBet’s customers to building brand recognition and improving its mobile sports betting and iGaming platforms.
Conquering New Markets
Fanatics’ hyper-aggressive expansion strategy was the motivating factor in the PointsBet acquisition. The company made no bones about the fact that it was going to grow as fast as possible without compromising the quality of its app. So far, so good, but the company still lags behind the dynamic duo of FanDuel and DraftKings.
Upon official completion of the sale early last month, Fanatics Betting & gaming CEO Matt Stone said, “The acquisition of the US businesses of PointsBet has supercharged our expansion plans. In addition to our migration of PointsBet customers and technology to the Fanatics Sportsbook and Casino platform, we have also added an incredibly talented team of passionate leaders from the ranks of PointsBet USA that have already made an impact on our business.”
Back in February, Fanatics launched in Michigan, Indiana, and New York all within a week.
“Our engineers, data analysts, and product teams have migrated three states in seven days…. Welcome to New York,” said the operator in a statement.
“It was fun launching New York on Leap Day…29th. We will be taking a break till North Carolina launches in March.”
Indeed, Fanatics did launch in North Carolina the following month and its rapidly expanding footprint in the mobile sports betting market also includes launches in Illinois and Arizona, both occurring in April.
