Fanatics looking to Accelerate launch in NY with PointsBet Deal

Fanatics looking to Accelerate launch in NY with PointsBet Deal

Fanatics is targeting the beginning of the NFL season in September to launch its sportsbook following its acquisition of PointsBet. 

The New York State Gaming Commission has recently held a meeting and the topic of Fanatics Sportsbook was discussed. Fanatics are purchasing PointsBet and will try and use the operator’s New York sports betting license as part of the process. Chairman of the New YorkGaming Commission,  Brian O’Dwyer, said Fanatics is aiming to be live by the time the 2023 NFL season rolls around. O’Dwyer also confirmed that Fanatics would need to be thoroughly reviewed and gain commission before receiving the green light to launch.

Fanatics Eyes New York Market

Fanatics has already had one unsuccessful attempt at trying to obtain a license for New York sports betting in 2021. In the two years since then, the Fanatics sportsbook has started to accept wagers in select markets. Completing the acquisition of PointsBet would open up the door for Fanatics to access several markets, including New York. The Empire State is reportedly a huge part of the company’s plans.

The Commission is still planning to look at every detail of the Fanatics application before granting any licenses. Workers have already begun working with the sports wagering company before making any licensing considerations. Parts of this process include licensing documentation and pre-ownership requirements.

The entire purchase of PointsBet is expected to be finalized in the next few months. If Fanatics can sign off on the deal and obtain a NY license, it could realistically launch its sportsbook in time for the new NFL season in September.

Fanatics looks to complete PointsBet deal

Fanatics could begin to acquire assets from gambling company PointsBet as soon as August 2023. This would mean some PointsBet operations in certain states would be re-branded to appear under the Fanatics umbrella. The deal will see the whole US operation of PointsBet transferring to the Fanatics brand by May 2024.

Fanatics will also want to have a full launch in place before they begin transferring PointsBet operations. The Fanatics sportsbook is currently running a beta site in Tennessee and Ohio with Massachusetts targeted as the next location for launch. The only people eligible to access the odds on the sportsbook are Fanatics customers with an entry code.