Fanatics Inc. has acquired the U.S. operations of PointsBet in an effort to accelerate the team apparel’s push into sports betting.
The $150 million deal does not include the target’s business operations in Australia or Canada. Fanatics has begun testing its online sports betting product in Ohio and Tennessee and plans to extend into Maryland and Massachusets by June.
Fanatics is working to expand beyond licensed apparel into collectibles and gambling. The firm raised $700 in December for a valuation of $31 billion.