The US sports betting industry could see the entry of a new major player.
according to CNBCSporting goods company Fanatics is in talks with sports writers Tipico. Fanatics have always been rumored to be in the market for a sports betting company.
The terms of a potential deal have not been reported. According to the report, Fanatics and Tipico are “currently at an impasse over pricing.”
The online sportsbook is located in New Jersey and Colorado, two of the more than 30 states that have legal and regulated sports betting. Tipico is a very small operator in an industry hitherto dominated by the likes of FanDuel and DraftKings.
The CNBC The report comes on the heels of headliner Michael Rubin’s announcement that he is selling his minority stake in Harris Blitzer Sports Entertainment, owner of the Philadelphia 76ers and New Jersey Devils. NBA The rules prohibit team owners from being sports betting operators.
According to the report, the fanatics have a private valuation of $27 billion, which Robin believes could grow with sports betting. developments are coming ESPN He is said to be looking forward to acquiring a sports book.
“As our Fanatics business has grown, we have also faced hurdles that I have to overcome to ensure that our new business does not conflict with my responsibilities as a Sixers part-owner,” Robin said in a statement. “With the launch of our trading cards and collectibles business earlier this year – which will have individual contracts with thousands of athletes globally – and the sports betting process to be launched soon, these new businesses will be in direct conflict with sports league ownership rules.”
Since mid-2018, sports bettors have lost more than $9 billion, according to reports. Tipico also offers online casino games in New Jersey.
