The New York State Gaming Commission has given the green light for Fanatics Sportsbook to obtain PointsBet’s New York mobile sports betting license. The agreement comes after Fanatics’ taking over the U.S. business of PointsBet. An amount of $225 million was made following the terms of the deal. Fanatics has commenced the procedure of shifting the sports betting licenses from PointsBet to itself. To clarify, this refers to jurisdictions where the firm currently does not operate.
Upon receiving the approval, Fanatics issued an official statement expressing their gratitude to the NY State Gaming Commission and its commissioners and officials for reviewing their case and providing such positive feedback.
Fanatics signed off with a note saying that it will be their pleasure to work hand in glove with the concerned authorities here on, and it is an honor for them to have Fanatics Sportsbook linked with the biggest sports betting space in the U.S like many other top sportsbooks.
In August 2023, the NY Gaming Commission suggested they go in for a closer look into the viability of Fanatics taking over PointsBet. They were mulling on Fanatics being tempted to rope in below-age gamblers via its trading card affiliate, The Topps Company. Fanatics managed to convince the officials that there was no chance of overlapping business interests.
Earlier, Fanatics was shown the red card when it came to obtaining a sports betting license in New York. Nonetheless, the company is now active in eleven states due to the passage of time. Until now, no information regarding the company’s New York debut has been disclosed.