It’s now official. Fanatics Sportsbook will be coming to the state of New York.
Earlier this week the New York State Gaming Commission approved Fanatics Betting and Gaming’s acquisition of PointsBet’s sports betting license in the state. In a deal previously announced Fanatics acquired PointsBet’s US operations for $225 million. The approval from New York regulators will allow Fanatics sportsbook to launch in the state using PointsBet’s license.
Following the approval by regulators Fanatics issued the following statement.
“Today, the New York State Gaming Commission approved Fanatics Betting and Gaming’s acquisition of PointsBet New York LLC. We would like to thank the commissioners and staff of the New York State Gaming Commission for their time and effort in delivering us some great news today. We look forward to working with the staff of the New York State Gaming Commission to bring the Fanatics Sportsbook to the largest sports wagering state in the U.S.”
New York’s approval of Fanatics taking over the PointsBet license was far from guaranteed before the approval process began as Fanatics had been denied in the state before. Before acquiring PointsBet Fanatics applied for their own sports betting license in New York only to be rejected by regulators in 2021.
Before approving the PointsBet license takeover regulators did express concerns over Fanatics cross-promoting between it’s trading card company Topps, and its sports betting operation Fanatics reps tried to negate those concerns by declaring no promotions would cross prohibited lines in the state.
Fanatics has not yet announced a date for their sportsbook launch in New York. Last month Fanatics Sportsbook launched un 11 states just in time for the new NFL season.