Fanatics Betting and Gaming (FBG) has just launched its sportsbook and online casino in Pennsylvania, expanding its reach to the 11th US state for sports betting and the second for the casino element. The launch is currently undergoing a two-day soft launch with no restrictions on sign-ups or playtime for customers, under the supervision of the Pennsylvania Gaming Control Board. This move comes after FBG acquired PointsBet in August 2023, allowing customers to migrate their accounts onto the Fanatics Sportsbook app. The company, headquartered in New York, is aiming to disrupt the sports betting industry with its ‘FanCash’ loyalty scheme and personalized live streaming features.

FBG’s online casino in Pennsylvania will offer a variety of slots and new games provided through its partnership with Light & Wonder. The company is also planning to produce exclusive content with its Fanatics Games Studio, with more games scheduled for later this year. The expansion into Pennsylvania comes as the state saw record revenue of $5.7 billion in 2023, driven by the success of igaming and sports betting. The revenue was 9.3% higher than the previous record, with physical slots leading the way.

Pennsylvania’s igaming revenue hit $1.7 billion in 2023, smashing the previous record by 27.7%. The state legalized online casino in 2019, and with such potential, the industry is expected to surpass $2 billion in revenue in 2024. In addition to igaming, sports betting in Pennsylvania also performed well, reaching a record $458.6 million in 2023 with a player handle of $7.7 billion.

FBG’s entry into Pennsylvania will see it compete with industry giants such as FanDuel and DraftKings, who are already established in the state. According to a December 2023 report, FanDuel is the current leader in Pennsylvania’s sports betting market, followed by DraftKings. In an interview with iGB, FBG chief executive Matt King expressed excitement for the challenge of catching up to the likes of FanDuel and DraftKings, drawing on his experience leading FanDuel before joining FBG.

In terms of igaming, Hollywood Casino at Penn National topped the revenue rankings, followed by Valley Forge Casino Resort and Rivers Casino Philadelphia. FBG’s move into Pennsylvania signifies its ambition to become a major player in the state’s sports betting and online casino markets.

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