Morrison Cohen Wins Mergers & Acquisitions 2024 Deal of the Year Award for Representation of Fanatics in Connection with PointsBet Acquisition
Morrison Cohen was awarded a Mergers & Acquisitions 2024 Mid-Market Deal of the Year Award for the firm’s work as counsel for client Fanatics. The global sports merchandiser acquired PointsBet USA from Australian sports betting company PointsBet Holdings for $225 million after beating out competitor DraftKings (Nasdaq: DKNG) in a bidding war.
The complex cross-border deal immediately increased Fanatics’ market access in online sports gambling by acquiring PointsBet’s regulatory approval in multiple states and accelerated Fanatics’ 10-year plan in the online sports gambling space. Fanatics also acquired PointsBet’s proprietary gambling software business Banach Technology. In selling its U.S. business, PointsBet freed up significant capital for other strategic priorities. It retained its Canada and Australia business operations.
In addition to Morrison Cohen, advisors on the deal included Moellis & Co., Jenner & Block and Baker McKenzie. View the full list of Mergers & Acquisitions 2024 Mid-Market Deals of the Year winners here.
Contacts
- Jessica L. Lipson Partner & Co-Chair, Technology, Data & IP
- jlipson@morrisoncohen.com
- Isaac Paul Grossman Partner & Chair, Tax
- igrossman@morrisoncohen.com
- Jeffrey P. Englander Partner & Co-Chair, Labor & Employment
- jenglander@morrisoncohen.com
- Jeff Laska Partner & Chair, Executive Compensation & Employee Benefits
- jlaska@morrisoncohen.com
- Michael M. McGovern Contract Attorney
- mmcgovern@morrisoncohen.com
- Tess Bonoli Associate
- tbonoli@morrisoncohen.com
- Cassandra N. Branch Associate
- cbranch@morrisoncohen.com
- AliceRose Sherman Associate
- asherman@morrisoncohen.com
- Cesar Rodriguez Associate
- crodriguez@morrisoncohen.com
- Lauren A. Brown Associate
- lbrown@morrisoncohen.com
- Randi Mason Partner & Co-Chair, Corporate
- rmason@morrisoncohen.com
- Molly Mitlak Associate
- mmitlak@morrisoncohen.com
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