Fantatics on the brink of full five-year license in Massachusetts

Fanatics Betting and Gaming has moved toward progression in Massachusetts after a state authority gave its approval for a full five-year license, subject to conditions. 

The Massachusetts Gaming Commission (MGC) held a hearing with the outcome recommending the long-term provision. 

Fanatics is currently offering its services in the Commonwealth under a one-year category 3 sportsbook license, along with six other operators, which are subject to the same suitability and regulatory process.

Those firms are DraftKings, Bally Bet, BetMGM, Caesars Sportsbook, ESPN BET, and FanDuel. 

DraftKings was the first to commence the MGC’s review process, with a five-hour hearing that took place in December.

During the Fanatics hearing, company founder and CEO Michael Rubin commented, “Thank you for the time and energy all of you have put into this throughout the review. We appreciate the partnership, we care about you a lot, and you’re an incredibly important state to us.”

Kathleen Kramer, counsel for the Massachusetts Gaming Commission Investigations and Enforcement Bureau (IEB), confirmed the body’s investigation found Fanatics to be a reliable applicant, with their credentials worthy of a full license. 

“The IEB recommends the commission find the applicant and all of the qualifiers suitable, subject to conditions,” she added.

With the ongoing approval subject to terms, the conditions include keeping MGC aware and included with Fanatics’ cybersecurity policy and liaising with the IEB on the activity of its gaming compliance committee.  

In return, the IEB will continue to monitor the operator with the suitability process and applicable terms ongoing.

In the Bay State, sportsbook revenue hit a six-month low in March despite spending almost reaching record levels. 

Taxable sports betting revenue reached $52.1 million, 12.8% up year-on-year, but a significant 20.6% behind the $65.6 million figure secured in February this year.

March’s monthly total works out as the lowest revenue return since October 2024, when $48.3m was recorded.

Image credit: Fanatics

The post Fantatics on the brink of full five-year license in Massachusetts appeared first on ReadWrite.