The much-anticipated changes to legal sports betting in New Jersey stemming from Fanatics’ $225-million purchase of the PointsBet US operations are starting to take shape.
The largest retailer of officially licensed sports apparel and merchandise will have an online sportsbook in NJ for the upcoming football season.
Fanatics Betting and Gaming announced Thursday that it had received regulatory approval and closed the PointsBet deal in eight states, including New Jersey.
Say hello to ‘PointsBet, a Fanatics Experience’
Sports gamblers in the Garden State will see PointsBet Sportsbook rebranded as “PointsBet, a Fanatics Experience,” according to a company press release.
Fanatics Betting and Gaming serves as the gambling division of Fanatics Holdings Inc. Created in 2021, Fanatics Betting and Gaming operates legal sports betting in 11 states, online casino in four states and advance deposit wagering for horse racing in 42 states.
The other states where Fanatics received regulatory approvals and announced the closure of the PointsBet US acquisition include:
- West Virginia
Fanatics NJ focusing on customers instead of market share
Matt King, CEO of Fanatics Betting and Gaming, had this to say about the sports betting market expansion:
“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.”
PointsBet will continue to operate in Illinois, Indiana, Louisiana, Michigan, New York and Ohio until Fanatics Betting and Gaming can close on those states individually, according to the press release.
The Fanatics Sportsbook app is currently available in Maryland, Massachusetts, Ohio and Tennessee. Fanatics Sportsbook has retail locations at professional sports venues in Cleveland and Columbus, Ohio, and Landover, Maryland.