Fanatics, the leading sports merchandise retailer, is reportedly considering entering the online casino industry following its acquisition of Australian sports betting company PointsBet. The acquisition, which was announced in August 2021, is expected to close in the first quarter of 2022.

PointsBet is a rapidly growing sports betting company that has made a name for itself in the United States market. The company offers a unique betting experience that allows users to place bets on specific events within a game, such as the number of points scored in a quarter or the number of rebounds by a specific player. PointsBet has partnerships with several major sports leagues and teams, including the NFL, NBA, and MLB.

Fanatics, on the other hand, is primarily known for its sports merchandise business. The company sells licensed apparel and memorabilia for a wide range of sports teams and leagues. Fanatics has partnerships with all major North American sports leagues, including the NFL, NBA, MLB, NHL, and MLS.

The acquisition of PointsBet could provide Fanatics with a foothold in the online casino industry. While Fanatics has not yet announced any plans to enter the industry, the acquisition of PointsBet gives the company access to a well-established sports betting platform and a team with expertise in online gambling.

The online casino industry has been growing rapidly in recent years, with more and more states legalizing online gambling. According to a report by Grand View Research, the global online gambling market size was valued at $53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.

Fanatics’ entry into the online casino industry could be a smart move for the company. The sports merchandise market is highly competitive, and Fanatics has already established itself as a leader in the space. However, the online casino industry is still relatively new and less crowded, providing Fanatics with an opportunity to expand its business and reach a new audience.

It’s worth noting that Fanatics is not the only sports-related company to enter the online casino industry. DraftKings, a popular daily fantasy sports platform, has also expanded into sports betting and online casino operations. The company went public in 2020 and has seen its stock price soar as more states legalize online gambling.

In conclusion, Fanatics’ acquisition of PointsBet could be a sign that the company is considering entering the online casino industry. While no official announcement has been made, the move would make sense for Fanatics, given the growth potential of the industry and the company’s existing partnerships with major sports leagues and teams. It will be interesting to see how Fanatics leverages its acquisition of PointsBet and whether it decides to enter the online casino space in the coming years.