Fanatics Raises Its Offer to $225 Million to Acquire PointsBet’s U.S. Assets

Fanatics has raised the stakes as it looks to acquire PointsBet’s U.S. business.

The sports platform company increased its offering by 50% to $225 million in an effort to outbid DraftKings, which made a non-binding offer of $195 million earlier this month.

PointsBet shareholders will formally vote on the new offer Thursday night.

“The Board unanimously supports the improved proposal from Fanatics Betting and Gaming, which provides a superior price plus certainty,” PointsBet Chairman Brett Paton said in a statement.

Read the source article at cnbc.com