Fanatics Betting and Gaming has launched in the states of Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia and West Virginia with the acquisition of PointsBet USA's operating businesses.
Meanwhile, PointsBet USA will continue to operate in Indiana and Illinois until Fanatics Betting and Gaming finalises its closure in those states later this year.
Matt King, CEO of Fanatics Betting and Gaming, said: "We have a 10-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."
This acquisition aligns with Fanatics Betting and Gaming's ongoing growth and diversification efforts. This includes the addition of PointsBet's online casino platform, which currently operates in four states.
Fanatics Betting and Gaming will use this platform to expand its online casino offerings, scheduled for launch later this year in the United States.
Moreover, it will integrate Banach Technology's risk management platform and quantitative trading models into the Fanatics Sportsbook app in Maryland, Massachusetts, Ohio and Tennessee.
PointsBet USA will continue to operate in states like Illinois, Indiana, Louisiana, Michigan, New York and Ohio until Fanatics Betting and Gaming concludes individual state closures.
