DraftKings attempting to block Conshohocken’s Fanatics effort to grow sports wagering business

Lafayette Hill native Michael Rubin, who operates his sports merchandise empire Fanatics from Conshohocken’s riverfront, is working to expand his entry into the world of sports wagering. Fanatics’ entry into the gambling world was marked by Rubin selling partial ownership of the Philadelphia 76ers due to the NBA ownership rules, hiring the former CEO of FanDuel, launching an initial gaming app in four states ( Ohio, Tennessee, Maryland, and Massachusetts), and the first in-stadium sports book at FedEx Field, the home of the Washington Commanders.

Fanatics recently announced the acquisition of PointsBet, a sports betting app that is operating in 12 states, including Pennsylvania. Fanatics was to pay $150 million for the company, however, it is now reported that DraftKings has offered $195 million for PointsBet in an effort to slow down Fanatics’ growth in the sports gambling industry. PointsBet has not yet made a final decision.

Fanatics is in a unique position compared to others in the sporting gambling industry as it has an existing database of 95 million people who have purchased sports merchandise from the company’s online store. That data offers Fanatics insight into what sports and teams you follow, and who your favorite players are, plus the company can offer rewards involving merchandise, memorabilia, and wagering.

You can read more about Fanatics’ entry into sports wagering and the current effort to acquire PointsBet here.

Disclosure – Michael Rubin is an investor in Burb Media, LLC the parent company of MoreThanTheCurve.com.

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