Fanatics Acquires PointsBet's U.S. Operations for $150 Million

Fanatics, an online sports merchandise retailer, is buying PointsBet's U.S. sports betting business for $150 million in cash.
The deal will give Fanatics access to at least 15 states where sports betting is legal.
Only PointsBet's U.S. assets are included in the deal.
Fanatics will provide funding to cover PointsBet's remaining cash flow needs.
Fanatics has been exploring potential deals with various sports betting companies over the past year.