Top stories around our network this week
In the world of sports betting operators, some keep opening new doors as others are slamming their old ones shut, while still more peers do their remodeling to try to make everything work better.
This week brought the announcement that the fledgling Fanatics Sportsbook is no longer in test mode. The longtime merchandiser that hopes to become an online sports betting behemoth is now fully operational in four states: Ohio, Maryland, Massachusetts, and Tennessee. It hopes to be active in many more as the betting-intensive football season gets underway.
Fanatics has a deal to purchase PointsBet's U.S. business to enable it to expand into additional states. The Wyoming Gaming Commission has a special meeting on Aug. 31 where the agenda includes an item on allowing the transfer of the PointsBet wagering license to Fanatics. Regulators in Colorado, Kansas, and Virginia are also considering or will consider the transfer of the licenses by the end of the month, and the New York State Gaming Commission expects to take up the matter in September.
Of the existing states in which Fanatics operates, Ohio is the biggest. It has embraced its role there by opening a retail sportsbook Friday at the Cleveland Guardians’ Progressive Field, with plans for another to open soon at the Columbus Blue Jackets’ Nationwide Arena.
Fanatics could be one of the beneficiaries of Wynn Resorts’ decision to shut down its WynnBET site in at least eight states, as the departure frees up a potential license in a state like Arizona where the number of operators is capped. In Maryland, on the other hand, WynnBET had a license but never even launched, and it is withdrawing that license.
All of those changes take place at the same time that reverberations are still circulating over PENN Entertainment’s decision last week to replace its Barstool Sportsbook through a new partnership with ESPN, resulting in a rebrand of the site as ESPN BET in November. A number of media commentators have expressed skepticism over how profitable that transition will actually be for PENN. One person clearly profiting, however, is Barstool Sports founder Dave Portnoy by getting his company back for $1, according to the analysts interviewed.
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If it sometimes seems like there’s too much to keep up with in this ever-evolving industry, don’t worry – that’s what staff is here for, diligently tracking the comings and goings and ups and downs. The wide-ranging stories linked below show the breadth of our coverage this past week, and for broader news of the gambling industry, be sure to check out sister site , including its weekly Double Down column and podcast.
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