Fanatics finally gets New York sportsbook license nod
Empire State gaming commission clears acquisition of previously held PointsBet license as regulators in Wyoming also greenlight transfer
Fanatics Betting and Gaming (FBG) has been cleared to acquire PointsBet’s New York-based sports betting license and business by the New York State Gaming Commission (NYSGC).
At a meeting of the regulatory entity on Tuesday (October 3), commissioners rubberstamped the acquisition and transference of licenses to FBG, following its $225m deal to acquire PointsBet’s US business in June.
FBG has been under consideration by NYSGC since confirmation of the deal came through, with meetings in August confirming extensive dialogue and scrutiny by the regulator.
“We would like to thank the commissioners and staff of the New York State Gaming Commission for their time and effort in delivering us some great news today,” a spokesperson for FBG said in a statement.
“We look forward to working with the staff of the New York State Gaming Commission to bring the Fanatics Sportsbook to the largest sports wagering state in the US,” FBG added.
In a separate release confirming the New York transfer of business to FBG ownership, PointsBet also announced the transfer of PointsBet Wyoming LLC and the firm’s Wyoming license to Fanatics control.
“Transfer of additional US state operations to FBG will take place as the applicable gaming approvals are obtained for those states. Subsequent completion is tracking as planned,” the Australian operator said.
Fanatics has a long history in New York sports betting having previously tendered for a license in 2021 in partnership with US rap icon Jay-Z and his Roc Nation company.
That license application was ultimately denied by NYSGC, with PointsBet USA being one of the nine operators receiving licenses to operate in New York. However, with the acquisition of the business by FBG, Fanatics can now make its debut in the state.
In NYSGC’s August meeting, Fanatics revealed plans to continue using PointsBet’s existing technology stack used in New York.
This consists of firewalled servers housed at the Resorts World Catskills casino, with Fanatics utilizing standard 256 encryption on all sportsbook communications.
In addition, existing PointsBet infrastructure, inclusive of internal controls, house rules, back-end reporting, know your customer (KYC) processes, and its responsible gaming plan, will all be maintained.
Fanatics has also previously pledged to maintain the usage of the PointsBet mobile app in the Empire state, with the operator outsourcing its customer service complaints department in a departure from previous PointsBet policy.
In September, Fanatics confirmed plans to rebrand PointsBet USA to ‘PointsBet, a Fanatics Experience’, having secured regulatory approval in Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia for the move.