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Fanatics in talks to purchase BetParx sportsbook

| By Zak Thomas-Akoo
Sports apparel giant Fanatics has reportedly entered into discussions to purchase the BetParx sportsbook, as the retailer looks to expand its gaming presence.

According to CNBC – which cited unnamed sources – Fanatics has signed a letter of intent to acquire the sportsbook, although no final agreement has been reached. No details have emerged on the price of the deal.

Fanatics has long signalled its intention to enter the US sports betting market.

Fanatics filed a trademark for a betting app in 2022

Last year, the business filed a trademark with the US Patent and Trademark Office for a “downloadable application for betting and gaming” named BetFanatics.

Also last year, the company announced the creation of a betting and gaming arm and made a number of major hires in this division.

BetParx  is powered by Playtech and is currently licensed to offer its services in five states – Ohio, New Jersey, Maryland, Michigan and Pennsylvania.

Read the full story on iGB North America

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