PointsBet s U.S. assets are officially on their way to Fanatics after shareholders overwhelmingly approved the company s proposed $225 million deal at its June 30 meeting.
The sports apparel giant triumphed in its bid to purchase PointsBet s U.S. assets and their coveted sports betting licenses in 14 states.
It ends a wild several weeks for PointsBet, which suddenly found itself in a bidding war over its U.S. resources. The company considered several offers from and DraftKings before ultimately backing the Fanatics after the operator increased its overall bid to $225 million, $30 million more than DraftKing s to purchase the assets.
Pivotal moment for Fanatics Betting and Gaming
PointsBet shareholders the purchase with 99.16% of shareholder votes in the affi…