After CEO Michael Rubin said he was selling his stakes in sports teams, there were rumors that Fanatics would acquire Tipico Sportsbook. CVC Capital Partners owns Tipico. It is also the most extensive sports wagering group in Germany. In addition, it operates in Croatia, Colombia, the United States, Gibraltar, and Austria.
Tipico has licenses in Colorado and New Jersey. In addition, it has a partnership deal with Caesars Entertainment that gave it access to the online markets in Indiana and Iowa. Also, it is planning to open a sportsbook in Ohio.
According to the best sportsbook pay per head, the deal isn’t final. Also, the two parties are discussing the price. However, negotiations are still ongoing.
Fanatics in Talks to Acquire Tipico Sportsbook
Rubin is selling his stake in Harris Blitzer Sports and Entertainment, the owner of the New Jersey Devils and Philadelphia 76ers. He said there’s a conflict of interest with the Fanatics’ planned sports betting venture and collectibles sector.
After letting go of his stake in HBSE, Fanatics can now venture into the NFTs business model and sports betting. But, according to league ownership regulations, Rubin can’t be part of a team and run a gambling company.
According to sportsbook software experts, Fanatics has a value of $27 billion. It was up from $4.5 billion in 2017. The company currently sells licensed college and professional merchandise over the internet. Also, it has over 10,000 workers in 57 countries. Its website also has 100 million users.
Fanatics grew after it acquired winCraft, a sports-theme supplier. The company also bought Topps, a trading card company.
Rubin predicts that Fanatics will be the top sports-collectible company in ten years. The company currently enjoys having one of the best-known digital sports brands in the world.
Tipico is increasing its foothold in the US. It became Columbus Crew’s official sports betting partner. Also, it hopes to launch a mobile betting app in Ohio.