Fanatics’ acquisition of PointsBet earlier this summer sent shockwaves throughout the gaming industry. With a company valuation of $30 billion, Fanatics didn’t enter the industry for minimal market share.
However, Fanatics is not solely going to rely on its own name. It plans to continue using the PointsBet name for branding purposes, including its Pennsylvania online casino for the time being.
Fanatics to use PointsBet in branding material
Whether it is the sportsbook or casino, Fanatics announced it is including the PointsBet name in an imminent rebrand. Last week, Fanatics closed on the operating businesses of PointsBet in the following states:
- New Jersey
- West Virginia
The new operator has one more step to complete before launching in Pennsylvania. When Fanatics goes live, users will see PointsBet rebranded to “PointsBet, a Fanatics Experience.”
Fanatics Betting and Gaming CEO, Matt King, said in a press release:
“We are excited about what we are building at Fanatics Betting and Gaming and this acquisition accelerates our plans. We have a ten-year plan that focuses on the customer and not market share. We are going to acquire customers efficiently, allowing us to return savings to customers by investing in the customer experience at Fanatics Sportsbook and PointsBet, a Fanatics Experience.”
Fanatics eventually launching branded PA online casino
While entering the sports betting market is no small feat, Fanatics’ online casino presence could be incredibly lucrative.
Pennsylvania has the strongest online casino market in the country. The month of July snapped a seven-month streak of revenue exceeding $160 million.
Fanatics appears to be focused on the sports betting side at the moment. It will launch an online casino later this year. Vice President of Communications, Kevin Hennessy, told PlayPennsylvania:
“Right now, no branding changes on the casino front. But adding the PointsBet Casino to our tools for building our own Fanatics Casino is part of the planning process.”
For further clarification, Hennessy confirmed that PointsBet Casino will be operational for the time being, with plans of soon launching a Fanatics-branded casino.
Fanatics is close to debuting Pennsylvania sports betting app
According to Pennsylvania Gaming Control Board (PGCB) Deputy Director of Communications, Richard McGarvey, Fanatics is just a step away from launching its sportsbook app in the Keystone State. He said:
“At last week’s PBCB meeting, Fanatics’ petition for Transfer of Interest was approved. Fanatics can now move forward in Pennsylvania with developing iGaming and sports wagering sites. Those sites would need to be checked for regulatory compliance and a test period would need to be conducted.”
Fanatics is entering the market with a ton of hype. The company is able to offer enticing promotions to a customer base of 95 million people through its sports merchandise business. Fanatics is providing users a percentage of FanCash for every bet placed, no matter the result:
- Straight bet: Up to 1% of the amount bet
- Parlay bet: Up to 3% of the amount bet
- Same-game parlay: Up to 5% of the amount bet
The accumulation of FanCash can be used in the form of bonus bets or for sports merchandise.
Fanatics has not announced any online casino promotions yet. However, players could see similar deals, which could potentially put Fanatics in a position to compete with market leaders like FanDuel and DraftKings.