Fanatics to Acquire PointsBet’s U.S. Assets in Deal Worth $150 Million

Fanatics has agreed to acquire the U.S. operations of PointsBet, marking the sports giant’s first major leap into U.S. sports betting.

The deal is worth about $150 million in cash. The companies announced the deal Sunday night soon after CNBC reported an agreement was reached.

“Fanatics and PointsBet are excited to enter into an agreement for Fanatics Betting and Gaming to acquire PointsBet’s U.S. business,” the companies said in a joint statement. “While there are still several steps in the process to complete the acquisition, both parties are confident in the outcome. Fanatics Betting and Gaming and PointsBet will provide further details of the proposed deal and timely updates in the coming weeks.”

Read the source article at cnbc.com