Fanatics Betting and Gaming has closed its acquisition with PointsBet in eight states, beginning the rebranding process in those respective markets.
The rebranding process follows from PointsBet shareholders unanimously agreeing to a $225m sale of its US assets – sports wagering, advance deposit wagering, icasino, Banach technology and license to use its proprietary technology platform – to Fanatics.
The transition will vary depending on the state, as three different products will be set out – the Fanatics Sportsbook, ‘PointsBet, a Fanatics Experience’ and PointsBet Casino.
In the states where the Fanatics’ platform is already active – Ohio, Massachusetts, Tennessee and Maryland – those products will remain the same.
However, Maryland also has a PointsBet Sportsbook, which will now be rebranded into ‘PointsBet, a Fanatics Experience’ and remain on the PointsBet platform. Both products will remain operational in the state for now.
This ‘PointsBet, a Fanatics Experience’ transformation will also take place in Colorado, Iowa, Kansas, New Jersey, Pennsylvania, Virginia and West Virginia.
Meanwhile, PointsBet Casino in New Jersey, West Virginia, and Pennsylvania will remain as PointsBet Casino, but the platform’s tech, as well as Banach Technology’s risk management platform, will be incorporated into Fanatics’ Amelco-powered product in the future.
Matt King, CEO of Fanatics Betting and Gaming, commented: “We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans.
“We have a ten-year plan that focuses on the customer and not market share. We are going to acquire customers efficiently, allowing us to return savings to customers by investing in the customer experience at Fanatics Sportsbook and PointsBet, a Fanatics Experience.”
While the rebranding is taking place in some markets, six states – Indiana, Illinois, Louisiana, Michigan, New York and Ohio – will remain as PointsBet Sportsbook for now before eventually switching to Fanatics. Johnny Aitken, CEO of PointsBet US, will also continue in his current role.
