Fanatics has elevated its provide to amass the US property of PointsBet to $225m in an try to carry off DraftKings. [Image: Shutterstock.com]
Fanatics has elevated the dimensions of its provide to purchase PointsBet’s US property to $225m, a 50% enhance from its earlier bid. DraftKings tried to hijack the transaction when it submitted a $195m bid on June 16. A vote will happen on June 30 amongst PointsBet shareholders about the newest provide.
gives a superior value plus certainty”
PointsBet Chairman Brett Paton issued a press release about the latest bid, saying: “The Board unanimously helps the improved proposal from Fanatics Betting and Gaming, which gives a superior value plus certainty.” DraftKings had till Tuesday to submit a binding provide, however they failed to take action.
Fanatics is a well-liked sports activities merchandise and collectibles firm. Its Fanatics Betting and Gaming subsidiary is main its enlargement within the betting house
If the deal goes forward, then Fanatics may have a foothold in one other dozen US states, together with New Jersey, New York, and Pennsylvania. The corporate noticed DraftKings’ try and derail its acquisition as a tactic to attempt to sluggish the corporate’s enlargement within the sports activities betting market.