DraftKings has made a move to acquire the US arm of PointsBet by offering an all-cash offer of $195 million. Previously, Fanatics had entered into a binding agreement with PointsBet to acquire its US arm. However, DraftKings has now surpassed Fanatics’ bid of $150 million, creating uncertainty regarding the acquisition. The Fanatics bid was scheduled to go to a shareholder vote on June 30, 2023.

DraftKings confirmed its offer in a letter to shareholders, highlighting that the bid represents a 30% premium over the agreement with Fanatics. PointsBet stated that it would consider DraftKings’ late proposal to determine if it could provide superior benefits for shareholders.