Fanatics SVP of trading Wright departs after two years

Wright joined Fanatics in May 2022 from his previous position of trading director at KingMakers.

Wright’s time at Fanatics saw the company launch its sportsbook offering in January 2023. With its launch at the then-named FedExField in Maryland, Fanatics became the first sports betting operator to open a retail sportsbook within a National Football League stadium.

Fanatics has since expanded across the US, launching its online casino in November 2023. Additionally during Wright’s tenure, FBG acquired PointsBet’s US business for $225m (£179.2m/€208.5m).

In a Linkedin post, Wright stated he was “incredibly grateful” for his time at Fanatics helping to build its betting and gaming division.

“Now it’s time to recharge the batteries and spend more time with the family before finding a new venture,” Wright said.

“All the best to the team at Fanatics Betting & Gaming. I’ll be cheering you on from afar!”

PointsBet deal boosts Fanatics expansion

After acquiring PointsBet’s US operations, Fanatics completed the takeover last week when it went live in New Jersey.

Fanatics is now live in all of the 20 states previously operated in by PointsBet prior to the deal. FBG stated its New Jersey entry means its sportsbook is available to around 95% of the US online market.

PointsBet’s New Jersey customers will have their usernames, passwords and other account details automatically migrated over to Fanatics’ sportsbook.

New Jersey is a particularly notable launch for Fanatics, due to the legality of online casino. It is the fourth state in which Fanatics has launched its online casino, having previously done so in Michigan, Pennsylvania and West Virginia.

Fanatics’ deal to acquire PointsBet came after it initially announced an agreement for $150m. A DraftKings bid of $195m upped the price, although Fanatics eventually closed the deal in June 2023.