In the competitive realm of sports betting, Fanatics has marked its latest achievement by launching its online sportsbook service in the state of Arizona, raising the number of states where the service is accessible to 18. This strategic move follows closely on the heels of Fanatics finalizing its acquisition of the PointsBet US operations at a hefty sum of $225 million. The deal has positioned Fanatics as a noteworthy player in the sportsbook market, showcasing its rapid growth and ambition within the industry.
The entry into the Arizona market, which coincides with the acquisition, has been marked by the initial wagers Fanatics took in the state, foreshadowing the company’s potential impact on the local sports betting landscape. Fanatics isn’t just halting at offering an online service; the company also unveiled plans to solidify its presence in Arizona through the launch of a Fanatics Sportsbook retail location. This establishment is set to open within the Mazatzal Hotel & Casino later in the summer and is part of a broader collaboration with the Tonto Apache Tribe who operate the resort.
Ari Borod, the Chief Business Officer of FBG (Fanatics Betting & Gaming), expressed his excitement regarding the partnership, emphasizing Arizona’s vast array of sports offerings which include baseball, hockey, football, golf, and racing. Borod highlighted the state’s suitability for Fanatics’ online sportsbook, given the significant sports fan base present there.
The sports betting industry in Arizona has shown dramatic growth, with January seeing a new revenue record for the second month in a row. The total generated by operators reached $69.3 million, outperforming the previous year’s $45.7 million for the month and December’s record by 4.8%, which stood at $66.1 million. These figures signify a robust and rapidly expanding market ripe for Fanatics’ entrance.
Fanatics has joined the fray alongside established sportsbook providers in Arizona. FanDuel continues to be the leader in the online market, having amassed a gross revenue of $31.2 million from $228.2 million in wagers. DraftKings, paired with partner Crown Gaming, secured a second-place standing with a revenue of $22.5 million, despite handling a greater volume of bets online totaling $258.1 million.
The launch into Arizona arrived soon after Fanatics secured its license from the Arizona Department of Gaming (ADOG), in partnership with the Tonto Apache. This calculated partnership between Fanatics and the tribal leadership represents not just a commercial expansion but extends its impact to nurture the welfare of the tribal community.
Calvin Johnson, the chairman of Tonto Apache, commented on the partnership’s potential, asserting that the collaboration with FBG would not only bolster the tribal community’s well-being but would also yield benefits for all citizens in Arizona. By joining forces with a national leader in sports betting, the Tonto Apache tribe is setting sights on leveraging the expanding market to promote communal advancement.
The aggressive move by Fanatics into Arizona’s market, particularly following the acquisition of PointsBet’s US operations, underscores the company’s resolve to establish a commanding presence in the sports betting arena. With the upcoming establishment of a retail location and an online platform already live, Fanatics is gearing up to be a major contender in Arizona’s flourishing sports betting landscape. The company’s vision and steps taken highlight a future rich with potential for not just business growth but significant community impact, emphasizing the symbiotic relationship between Fanatics’ expansion and its commitment to driving economic and social benefits for local stakeholders.
