Sydney, Australia listed PointsBet Holdings has received a cash offer from DraftKings to acquire its US business for $195m.
DraftKings is looking to outbid ecommerce giants, Fanatics, who announced plans to acquire the business several weeks ago.
Michael Rubin, CEO at Fanatics, has gone on record accusing DraftKings of attempting to block their deal, telling gaming industry title, iGB News:” We are sceptical of the DraftKings proposal, which seems like a desperate move to slow down Fanatics and PointsBet from completing the deal.”
The DraftKings offer comes after PointsBet reached an agreement for the betting and gaming arm of Fanatics to acquire the PointsBet US.
DraftKings have said they would purchase the business on a debt-free, cash-free basis with no financing conditions. The PointsBet Holdings board will now assess this second proposal.
