According to CNBC – which cited unnamed sources – Fanatics has signed a letter of intent to acquire the sportsbook, although no final agreement has been reached. No details have emerged on the price of the deal.
Fanatics has long signaled its intention to enter the US sports betting market.
Fanatics filed a trademark for a betting app in 2022
Last year, the business filed a trademark with the US Patent and Trademark Office for a “downloadable application for betting and gaming” named BetFanatics.
Also last year, the company announced the creation of a betting and gaming arm and made a number of major hires in this division.
BetParx is powered by Playtech and is currently licensed to offer its services in five states – Ohio, New Jersey, Maryland, Michigan and Pennsylvania.