LEGAL SPORTS REPORT: Fanatics Closes $225M Acquisition of PointsBet US Assets

The nearly 11-month journey of PointsBet selling its US assets to Fanatics is over as of Wednesday.

The $225 million deal saw Fanatics take over the US operations of PointsBet, in-play technology developer Banach Technology and a license to use a copy of PointsBet’s proprietary tech platform.

PointsBet first announced Fanatics would be taking over with a $150 million offer in May 2023. DraftKings threw its hat into the ring for PointsBet about a month later with a $195 million cash offer for its US assets.

DraftKings never finalized a binding offer, though, and the increased offer from Fanatics was accepted by shareholders days later…