Enthusiasts, the major player in athletic wear, are allegedly in discussions to acquire BetParx sportsbook. This move aligns with their strategy to expand their presence in the gaming industry.
CNBC reports that Fanatics has submitted a letter of intent to purchase BetParx, but a definitive agreement has yet to be reached. The financial terms of the potential transaction remain undisclosed.
Fanatics has been actively pursuing entry into the US sports betting market for some time.
Last year, they applied to utilize the brand name BetFanatics for their betting applications.
They also established a dedicated betting and gaming division and recruited a substantial workforce to support it.
BetParx, which leverages Playtech software, is authorized to operate in five states: Ohio, New Jersey, Maryland, Michigan, and Pennsylvania.