'DraftKings, Fanatics Vie For PointsBet, After Scrapping $48B Merger, Sources Say' - NY Post
Portfolio Pulse from Benzinga Newsdesk
DraftKings and Fanatics are competing to acquire PointsBet's US business after a failed $48 billion merger between DraftKings and Fanatics in 2021. DraftKings recently made a surprise $195 million bid for PointsBet, topping Fanatics' $150 million deal.
June 23, 2023 | 5:16 pm
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NEUTRAL IMPACT
DraftKings' bid for PointsBet's US business could be a strategic move to block Fanatics from entering the sports betting market and acquiring a valuable New York sports betting license.
DraftKings' bid for PointsBet could be seen as a strategic move to block Fanatics from entering the sports betting market and acquiring a valuable New York sports betting license. This could potentially limit competition and maintain DraftKings' market position. However, the acquisition also carries risks, such as regulatory clearance issues, which could impact the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100