We’ve known for some time that Fanatics would eventually be replacing PointsBet in Michigan. The big question has been when?
Fanatics has been taking small steps toward replacing PointsBet in recent months. It took another step forward on Tuesday.
During the monthly Michigan Gaming Control Board meeting, a number of PointsBet labels and positions were transferred over to Fanatics.
Does this mean we will see a new option among Michigan online casinos and Michigan online sportsbooks soon?
MGCB approves many new key people for Fanatics
Each month the MGCB holds board meetings to approve supplier licenses, license renewals and new key people in regard to supplier licensees.
On Tuesday, the MGCB addressed a variety of new key people from Fanatics.
As part of section D of Tuesday’s meeting the MGCB listed the following for the PointsBet transfer:
- PointsBet Michigan LLC, with New Key Person FBG Enterprises Opco, LLC d/b/a Fanatics Betting and Gaming
- FBG Enterprises Intermediate Holdco, LLC
- FBG Enterprises Holdco, Inc,
- FBG Enterprises Topco, Inc.
- Fanatics Global Holdco, LLC
- Fanatics Holdings, Inc.
- Kynetic F, LLC
- Michael G. Rubin 2011 GST Nonexempt Grantor Retained Annuity Trust #2
- SL FH Holdco I, L.P.; SL FH VC, L.L.C
- Michael Gary Rubin
- Matthew Wallis King
- Andrea John Ellis
- Edward Henry Kimball Couture
- Glenn Howard Schiffman
- Michael Ross Conn
- Gregory Keith Mondre
- Mindy Faye Grossman
- Gerald Leonard Storch
- Deven Jawahar Parekh
- Lydia Bly Jett
- Jonathan Christopher Mildenhall
That certainly looks like a lot of jargon and people on the surface.
Most times in this section, just one role or label is addressed. The fact that so many new labels and members were addressed is a good indicator that Fanatics is approaching its full launch in Michigan. The key people were approved by the MGCB.
Later in the meeting, in Section F further regarding the transfer, PointsBet was the only company listed. It was also approved by the MGCB.
These moves don’t give us a specific date, but certainly indicate that things are progressing for Fanatics to take over PointsBet entirely in Michigan.
Six months after PointsBet sold its US assets
Fanatics secured its purchase of the US assets of PointsBet back in June after a small negotiation battle with DraftKings.
In September, PointsBet Michigan officially added “A Fanatics Experience” to its logo. That has remained over the last three months.
The operator has said its goal was to launch its sportsbook by the end of 2023, while the online casino offering may not come until 2024.
The operator is running out of time if it hopes to launch in 2023. We are now in mid-December and the longer this drags out, the less Fanatics is able to capitalize on the NFL season with its launch.
The approval of the new key people seems like a big step. It seems regulatory issues are all that are standing in the operator’s way since they do have an online sportsbook operation in some other states already.
Maybe the Christmas gift for online gamblers this year will be a Fanatics launch just in time for the holidays.
