Sports merchandise company Fanatics worth $18 billion, looks to expand into sports gambling

sports

Fanatics, a sports merchandise company, raised $325 million in funding to expand into new markets under its parent company’s umbrella. According to CNBC, it is now worth $18 billion.

The Florida-based e-commerce company intends to focus on revenue streams other than merchandising. The division will be led by Fanatics Chairman Michael Rubin, who will also serve as CEO. According to The Wall Street Journal, Fanatics expects to make $3.4 billion in revenue this year.

Fanatics is looking for new opportunities, such as sports betting, which explains why it has been hiring new executives. Fanatics hired former IAC chief financial officer Glenn Schiffman last month to play a key role in expanding into new sectors such as gaming and new ticketing models.

 

Categories:

Tags:

Share:

Facebook
Twitter
LinkedIn
Email
Nassima Azmzm

Nassima Azmzm

Leave a Comment

0 responses on "Sports merchandise company Fanatics worth $18 billion, looks to expand into sports gambling"

Leave a Message



Qasiknow.com is born out of the necessity of sharing information and knowledge with everyone in the gaming industry who is interested in learning, growing, discovering different points of view and ways of doing things.

Upcoming Events

top
Copyright ©️ Qasiknow.com | All rights reserved.
X