FanDuel Sportsbook and Gaming has finalized its takeover of PointsBet’s American operations and has commenced its activities in New Jersey.
Enthusiasts runs nineteen retail outlets, encompassing retail sportsbook venues outside of the Progressive Field and Nationwide Arena, and the sole sportsbook within an NFL arena, situated within the Commanders’ home stadium.
How did Enthusiasts obtain PointsBet’s American operations? The operator submitted a $225 million offer for PointsBet US in June 2023, following a bidding competition with DraftKings. The firm had previously reached an accord with PointsBet in May to acquire its American operations for $150 million, with stakeholders scheduled to vote on the transaction at a June 30 gathering.
However, news surfaced in June that DraftKings had presented a more substantial offer of $195 million. PointsBet declared it would engage in negotiations with DraftKings, which it labeled a “superior” proposal. After confirming the enhanced offer, DraftKings proclaimed it would no longer pursue the acquisition of PointsBet US.
Over the preceding year, Enthusiasts has assumed control of PointsBet’s operations in every state where it functions. Last month, the enterprise took over PointsBet’s operations in Kansas, concurrently launching in North Carolina as the state formally initiated its legal sports wagering market.
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