Fanatics, the sports merchandise giant valued at over $30 billion, has reached a deal to acquire the U.S. assets of PointsBet, an online sportsbook operator based in Australia.
Why it matters: The deal brings Fanatics further into the world of online sports betting as it gears up for a potential IPO.
Five years ago today, the Supreme Court overturned the Professional and Amateur Sports Protection Act, launching what has become a massive legal sports betting industry.
Why it matters: The booming business has become inescapable to fans, littering TV broadcasts with ads and driving the conversation in sports bars across America.
