Business By The Books: Rubin, Fanatics Set Stage For Sports Betting Launch

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Fanatics CEO Michael Rubin last week finished the sale of his 10% stake in Harris Blitzer Sports & Entertainment, a key step for his sports betting business.

The sale, announced in June, means he is no longer a partner of the Philadelphia 76ers or the New Jersey Devils.

Fanatics will launch its first sportsbooks in January, CEO Michael Rubin recently announced. He expects Fanatics Sportsbook to take bets in all major US markets except New York by the time NFL betting rolls around in 2023.

Fanatics hires betting CFO

Fanatics hired Andrea Ellis to serve as CFO of its betting and gambling subsidiary.

Ellis joins Fanatics after a two-year stint as CFO of electric scooter and bike share company Lime. She also held various positions including CFO and head of investor relations for Restaurant Brands International.

Kambi gets Canadian retail sports betting partner

Kambi will provide 10 retail Ontario sportsbooks to Great Canadian under its latest agreement.

Great Canadian operates 12 casinos in Ontario and 25 total establishments in Canada.

The deal will have a “small positive financial impact” on Kambi’s revenue this year, with a more material impact next year.

Caesars partnering for Times Square casino bid

Caesars is partnered with SL Green Realty to open a casino in New York City‘s Times Square.

The project will be 100% privately funded with Caesars licensing its brand to the casino. Caesars will also manage the operations under a long-term contract.

The partnership would likely put a retail Caesars Sportsbook right in the tourism heart of the city.

FanDuel parent onboarding new corporate CFO

Flutter will bring InterContinental Hotels Group CFO Paul Edgecliffe-Johnson on as its corporate CFO in the first half of 2023.

Current CFO Jonathan Hill will slide into the position of Group COO.

“I am delighted that Paul will join us next year as Group CFO,” CEO Peter Jackson said.  I am confident that his highly relevant skills and experience will help us to take advantage of the significant opportunities before us and will be invaluable as we continue to execute our strategy.”

Intralot, DC Lottery launch updated sports betting app

There is a new GambetDC app live in Washington, DC, to try to close the gap between the DC Lottery‘s offering with Intralot and other operators in the District.

The app purports to offer an improved user experience, faster and smoother navigation and personalized promotions. GambetDC will also offer more in-game microbetting markets through Intralot’s partnership with Simplebet.

It will probably take more than an app update to get users to choose the brand over other options, though. In August, private operators – including a BetMGM and Caesars mobile app geofenced to their professional team partners, as well as a FanDuel retail book – combined for $9.7 million in handle and 13.1% hold.

Compare that to the $3.4 million in handle and 16.2% hold rate by GambetDC for the same month despite its nearly District-wide reach.

FanDuel partners with Shams, expands with The Ringer

NBA reporter Shams Charania will exclusively use FanDuel odds in his social media reporting under a new partnership.

Charania will also regularly contribute to FanDuel TV‘s new NBA show, “Run It Back.”

FanDuel also expanded and extended its partnership with Spotify‘s The Ringer. The brand remains The Ringer’s exclusive sports betting partner and will collaborate on content together including featured bets.