{"id":303696,"date":"2023-12-18T05:00:38","date_gmt":"2023-12-18T11:00:38","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=303696"},"modified":"2023-12-18T12:41:01","modified_gmt":"2023-12-18T18:41:01","slug":"fanatics-ipo-could-finally-happen-n-2024","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/","title":{"rendered":"Fanatics IPO Could Finally Happen in 2024"},"content":{"rendered":"

Fanatics could commence an initial public offering in 2024, ending two years of speculation regarding one of the most-anticipated IPOs.<\/p>\n

\"Fanatics\"
The Fanatics Sportsbook logo. The operator is rumored to be a candidate for a 2024 IPO. (Image: Fanatics)<\/figcaption><\/figure>\n

Following two investor days, including one in June<\/a>, speculation swirled that Florida-based Fanatics would finally sell shares to public investors. That didn\u2019t happen, dampening hopes for activity from big names in what\u2019s been a sluggish year for IPOs. Through the first three quarters of 2023, U.S. IPOs generated proceeds of just $16.7 billion for listing firms.<\/p>\n

Fanatics is expected to come to the public market after making several acquisitions in the past couple of years, including Topps trading cards and clothing brand Mitchell & Ness. Fanatics is best known for the exclusive licensing deals it has with the NFL, NHL, NBA, MLB and colleges and universities to make and sell official team merchandise,\u201d<\/strong> according to Seeking Alpha<\/em>.<\/p><\/blockquote>\n

Following a $700 million capital raise<\/a> in December 2022, Fanatics is valued at $31 billion. Should the company raise close to that amount or more, it would likely be one of next year\u2019s largest IPOs.<\/p>\n

Signs Show Fanatics is Prepping IPO<\/h2>\n

In addition to the aforementioned investor days, there are other signs Fanatics, a new entrant<\/a> to U.S. iGaming and sports wagering fray, is readying an IPO.<\/p>\n

\n

In April, the company appointed Deborah Crawford as senior vice president, head of investor relations. Crawford spent a decade in a similar role at Facebook parent Meta Platforms, and before that, she led investor relations at Ancestry.com and Netflix. That\u2019s a splashy investor relations hire for a company that intends to remain private, indicating that Fanatics could indeed be a credible 2024 IPO.<\/p>\n<\/div>\n

In September, Fanatics announced the hiring of Andrew Low Ah Kee as chief executive officer of Fanatics Commerce, the firm\u2019s merchandising unit. That\u2019s another hire market observers view as a potential prelude to an IPO.<\/p>\n

In mid-2022, Fanatics hired Matt King as CEO of its betting and gaming division. He previously held the same role at FanDuel, which is the largest online sportsbook operator in the U.S.<\/p>\n

Speaking of Fanatics and Betting \u2026<\/h2>\n

Following its $150 million purchase of PointsBet\u2019s U.S. operations, Fanatics is expected to make a broader push into U.S. sports wagering in 2024.<\/p>\n

\n

In September, the company launched the Fanatics Sportsbook app in Maryland, Massachusetts, Ohio, and Tennessee. After completing a portion of its previously announced acquisition of PointsBet U.S., Fanatics debuted the app in another seven states<\/a> in late August, including Colorado, Iowa, Kansas, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia.<\/p>\n<\/div>\n

\u201cNotably, Fanatics saw search interest for its betting app soar in November. During a Fanatics investor event earlier in the year, reps from the NBA Players Association and Las Vegas Raiders minority owner Tom Brady offered support,\u201d added Seeking Alpha<\/em>.<\/p>\n

Fanatics counts the four major U.S. sports leagues, Major League Baseball (MLB), the NBA, NFL, and the NHL, as well as Major League Soccer (MLS) among its investors. Other investors include Silver Lake, SoftBank, BlackRock, Fidelity, and MSD Partners, an investment vehicle controlled by Dell founder Michael Dell.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fanatics could commence an initial public offering in 2024, ending two years of speculation regarding one of the most-anticipated IPOs. Following two investor days, including one in June, speculation swirled that Florida-based Fanatics would finally sell shares to public investors. That didn\u2019t happen, dampening hopes for activity from big names in what\u2019s been a sluggish […]<\/p>\n","protected":false},"author":46,"featured_media":285528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1,1074],"tags":[81903,81967,80968],"acf":[],"yoast_head":"\nFanatics IPO Could Finally Happen n 2024<\/title>\n<meta name=\"description\" content=\"Fanatics IPO could come to market in 2024, according to recent rumors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fanatics IPO Could Finally Happen n 2024\" \/>\n<meta property=\"og:description\" content=\"Fanatics IPO could come to market in 2024, according to recent rumors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-18T11:00:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-18T18:41:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/fan2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1366\" \/>\n\t<meta property=\"og:image:height\" content=\"456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/\",\"url\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/\",\"name\":\"Fanatics IPO Could Finally Happen n 2024\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/fan2.png\",\"datePublished\":\"2023-12-18T11:00:38+00:00\",\"dateModified\":\"2023-12-18T18:41:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Fanatics IPO could come to market in 2024, according to recent rumors.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fanatics-ipo-could-finally-happen-n-2024\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/fan2.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/08\/fan2.png\",\"width\":1366,\"height\":456,\"caption\":\"The Fanatics Sportsbook logo. 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