Fanatics to Buy PointsBet’s US Business in Sports Betting Push

Fanatics Inc. has acquired the US operations of PointsBet, helping accelerate the team apparel company’s push into the sports betting market.

Fanatics is paying about $150 million, according to a statement. The deal doesn’t include PointsBet’s business in Australia, where the company is based, or Canada.

Closely held Fanatics has started testing an online sports betting product with its existing customers in just two states, Ohio and Tennessee. It plans to be in Maryland and Massachusetts by June. By acquiring PointsBet’s US business, Fanatics gains access to more states and to PointsBet’s trading technology.

Five years after the ...