{"id":4913,"date":"2023-06-20T06:02:50","date_gmt":"2023-06-20T06:02:50","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/06\/20\/pointsbet-chooses-draftkings-195-million-offer-over-fanatics-betting-and-gaming\/"},"modified":"2023-06-20T06:02:50","modified_gmt":"2023-06-20T06:02:50","slug":"pointsbet-chooses-draftkings-195-million-offer-over-fanatics-betting-and-gaming","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/06\/20\/pointsbet-chooses-draftkings-195-million-offer-over-fanatics-betting-and-gaming\/","title":{"rendered":"PointsBet Chooses DraftKings\u2019 $195 Million Offer over Fanatics Betting and Gaming"},"content":{"rendered":"<div>\n<p>In an unexpected turn of events, Australian online sports wagering company PointsBet Holdings has agreed to sell its US businesses to prominent US sportsbook DraftKings. On June 16, 2023, just three days after receiving a thorough <a href=\"https:\/\/igaming.org\/sports-news\/draftkings-sets-its-sights-on-pointsbets-us-operations-with-195m-bid\/\" target=\"_blank\" rel=\"noopener\">$195 million offer from DraftKings<\/a>, PointsBet decided to engage with the company, leaving behind months of negotiations with Fanatics Betting and Gaming (FBG). While the PointsBet board continues to encourage shareholders to vote for Fanatics\u2019 deal, DraftKings\u2019 superior bid has received substantial attention. This essay investigates the strategic ramifications of this move and sheds light on PointsBet\u2019s objectives.<\/p>\n<p>Along with FanDuel, DraftKings, one of the leading companies in the US sports betting business, has positioned itself as a formidable rival in the market. According to recent estimates, DraftKings has an astounding $10 billion portion of the $13 billion US sports wagering market. With such a large market presence, DraftKings\u2019 offer offers PointsBet with a sense of confidence, leading to their choice to proceed with the transaction.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The non-binding takeover deal from <a href=\"https:\/\/igaming.org\/casino-news\/record-breaking-1-1-million-progressive-jackpot-won-on-draftkings-in-west-virginia\/\">DraftKings<\/a>, regarded as \u201csuperior,\u201d is an attractive offer for PointsBet. The $195 million all-cash settlement far outweighs Fanatics Betting and Gaming\u2019s (FBG) $150 million offer. The significant 30% gain in value above FBG\u2019s offering explains PointsBet\u2019s quick decision to accept DraftKings\u2019 offer. This abrupt change indicates PointsBet\u2019s drive to maximize profits and assure a positive outcome for their shareholders.<\/p>\n<p><a href=\"https:\/\/igaming.org\/casino-news\/pointsbet-exits-us-market-sells-operations-to-fanatics-for-225-million\/\">PointsBet<\/a>\u2018s estimated loss of US$115 million to US$123 million for the first half of 2023, combined with a $162 million investment in its US operations during the previous two years, creates a difficult financial situation. While FBG\u2019s offer may not cover PointsBet\u2019s losses in the US sports betting market, DraftKings\u2019 offering allows PointsBet to recoup its investment and perhaps depart the market with a positive financial outcome. This winning hand allows PointsBet to concentrate on stabilizing its local operations, which may include the sale of its Australian operations.<\/p>\n<p>PointsBet\u2019s board of directors continues to encourage shareholders to vote in favor of Fanatics\u2019 takeover at the next Extraordinary General Meeting on June 30, 2023. At the same time, the board will carefully analyze DraftKings\u2019 offer while being open to receiving a more competitive offering from FBG. The outcome of the acquisition process will be determined by Fanatics\u2019 last hand, but PointsBet appears to have secured a favorable position, allowing them to redirect their attention into improving their Australian operations.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/pointsbet-chooses-draftkings-195-million-offer-over-fanatics-betting-and-gaming\/\">PointsBet Chooses DraftKings\u2019 $195 Million Offer over Fanatics Betting and Gaming<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In an unexpected turn of events, Australian online sports wagering company PointsBet Holdings has agreed to sell its US businesses to prominent US sportsbook DraftKings. On June 16, 2023, just three days after receiving a thorough $195 million offer from DraftKings, PointsBet decided to engage with the company, leaving behind months of negotiations with Fanatics [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4913","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=4913"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4913\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=4913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=4913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=4913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}