In a seismic shift within New Jersey’s bustling sports betting arena, Fanatics, the sports merchandise giant, has made headlines with its acquisition of PointsBet, a prominent player in the state’s sports wagering scene. This strategic move not only underscores Fanatics’ ambitions to diversify its offerings but also reflects the dynamic nature of the Garden State’s ever-evolving gambling landscape.
Since New Jersey paved the way for legal sports betting in the United States, the state has emerged as a beacon for industry innovation and growth. With a robust framework and a keen eye for successful market developments, New Jersey has continually attracted major players seeking to capitalize on the state citizens’ enthusiasm for sports wagering.
Fanatics’s takeover of PointsBet operations in New Jersey and the U.S.
Fanatics’ acquisition of PointsBet signals a significant development in this landscape, promising to reshape the competitive dynamics and potentially introduce new avenues for fan engagement. As the dust settles on this transformative deal, all eyes remain fixed on New Jersey, as the state navigates this next chapter in its sport betting history.
Fanatics originally purchased PointsBet’s U.S. operations back in 2023, a sale that cost over $225 million. For months after the acquisition, PointsBet came to be known as PointsBet, A Fanatics Experience in New Jersey. Now, though, a Fanatics spokesperson has stated that the company plans to shift all merchandising and operations over to Fanatics Sportsbook NJ the week of April 29.
With PointsBet’s user interface, foundation, and infrastructure, Fanatics could move quickly to insert itself as a major sportsbook in this fast-growing industry. Through PointsBet’s market share, Fanatics sportsbooks is already available in 19 United States territories, giving them an advantageous head start in their foray into gambling. For now, their online casino is only available in three other states besides New Jersey: Michigan, Pennsylvania, and West Virginia.
Unibet to pull out of shifting New Jersey sports betting landscape
This won’t be the only change in New Jersey’s sports betting landscape this April, though. Earlier in the month, Unibet, an international sportsbook based out of Sweden, announced that it would be ending its operations in New Jersey. The company plans to shut down May 14. They’ll give their users up until May 5 to cast wagers and May 14 to withdraw any account funds.
Unibet NJ worked quickly following the Supreme Court’s repeal of the Professional and Amateur Sports Protection Act in 2018 to expand its offerings to the newly available U.S. market. It seems, however, that its stateside venture hasn’t met expectations, as Unibet announced that it will pull out of Arizona this year, too.
Turf Paradise Casino, which held Arizona’s Unibet sportsbooks, has stated that it’s already looking to replace Unibet’s presence as an operator in the state. Undoubtedly, a new player will step up in Unibet’s absence in New Jersey shortly as well.
As evidenced by Fanatics takeover of PointsBet, the sports betting industry moves fast, especially in a market as booming as New Jersey’s. The state and its gamblers likely won’t have to wait very long to find a replacement for Unibet, just as the Turf Paradise Casino intends to do in Arizona.
