The New York State Gaming Commission has approved Fanatics Sportsbook’s takeover of PointsBet’s NY mobile sports betting license.
The approval follows Fanatics recent acquisition of PointsBet’s U.S. operations in a deal worth $225 million. As part of the takeover, Fanatics has started the process of transferring PointsBet sports betting licenses to its own brand in states where it does not currently operate.
Fanatics released a statement following the approval:
“Today, the New York State Gaming Commission approved Fanatics Betting and Gaming’s acquisition of PointsBet New York LLC. We would like to thank the commissioners and staff of the New York State Gaming Commission for their time and effort in delivering us some great news today.
We look forward to working with the staff of the New York State Gaming Commission to bring the Fanatics Sportsbook to the largest sports wagering state in the U.S.”
Earlier in August of this year, the New York Gaming Commission had promised “increased scrutiny” in its suitability review of Fanatics following the PointsBet takeover.
There was some concern that Fanatics may appeal to underage gamblers as a result of its trading card subsidiary The Topps Company, Inc. However, the company assured the commission that there would be no crossover between the two separate segments of its operations.
Fanatics was previously denied a New York sports betting license but has since launched across 11 states prior to the NFL season opener on September 7th.
No date was specified for its launch in New York.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.