The New York State Gaming Commission (NYSGC) announced Tuesday afternoon the unanimous approval of the Fanatics Betting and Gaming acquisition of the PointsBet NY online sports betting license during its monthly meeting.
PointsBet has been licensed and operational in New York since Jan. 24, 2022. On June 29, PointsBet shareholders approved the sale to Fanatics. Fanatics will continue to utilize PointsBet’s technology stack, which is located at Resorts World Catskills in Monticello.
“Today, the New York State Gaming Commission approved Fanatics Betting and Gaming’s acquisition of PointsBet New York LLC,” Fanatics said in a statement. “We would like to thank the commissioners and staff of the New York State Gaming Commission for their time and effort in delivering us some great news today. We look forward to working with the staff of the New York State Gaming Commission to bring the Fanatics Sportsbook to the largest sports wagering state in the U.S.”
Latest Numbers from PointsBet
PointsBet’s weekly New York betting apps handle for the week ending Sept. 24 was more than $6.4 million, its highest since over $7.78 million was posted for the week ending March 19 (the first weekend of the NCAA Men's College Basketball Tournament). In August, PointsBet generated more than $17 million in mobile handle (highest since May's $19 million). The company’s total Gross Gaming Revenue (GGR) for August was $914,020.
Casino Questions Due Friday
The NYSGC also confirmed the second round of questions for three downstate New York gambling casino licenses are due by Friday. They will then begin to review immediately. Another meeting will be held near the end of October to discuss technical questions and for further research on the first round of answers.
Once second-round answers have been released, applicants will have 30 days from that date to submit a Request For Application (RFA). Those applications will be reviewed by a local Community Advisory Committee (CAC). Applications will need two-thirds support from the CAC, along with zoning approvals, before the state's Gaming Facility Location Board (GFLB) can consider.