Posted on: Oct 20, 2021, 7:55 a.m.
Last update on: October 20, 2021, 8:41 a.m.
In the latest sign that Fanatics is looking to become a force in the online betting world, the company recently filed several patent applications with the United States Patent and Trademark Office (USPTO). They are asking for a branded casino, mobile betting app and sports betting.
The patent applications come less than three weeks after Fanatics’ trading card business raised $ 350 million in capital from new and existing investors, valuing the unit at $ 10.4 billion. Investors in this round included Endeavor Group Holdings, Inc. (NYSE: EDR), the parent company of the Ultimate Fighting Championship (UFC).
Documents filed with the USPTO confirm that Fanatics is taking steps to increase its exposure to the rapidly growing online gaming and sports betting segments. This includes downloadable mobile applications.
downloadable mobile applications for use in fantasy sports leagues, namely, mobile applications for managing and participating in fantasy sports leagues; downloadable mobile application for the provision of sports broadcasts and information; downloadable mobile application to provide previews, alerts, reruns, video clips of sports competitions and webcam feeds, all in the field of sports, âaccording to the patent filing for Fanatics Sportsbookk.
The documents also mention that the apps will provide sports news, player information, team statistics, team and game analysis, and âforecasts using predictive analyticsâ.
Fanatics can prowl for targets
Fanatics’ patent applications come about a month after news was released that the company was in talks with Rush Street Interactive (NYSE: RSI) and Swedish gaming giant Betsson about a possible takeover.
In August, Fanatics raised $ 325 million from investors, including rapper Shawn “Jay-Z” Carter and his entertainment company Roc Nation, Major League Baseball (MLB), private equity firm Silver Lake and the famous SoftBank Vision Fund. This capital increase values ââFanatics at $ 18 billion.
Florida-based Fanatics was previously known for its dominant position in the licensed sportswear market. But the business is changing. Fanatics recently announced the hiring of former FanDuel CEO Matt King and Tucker Kain, president of the Los Angeles Dodgers business enterprise. Kain will oversee Fanatics’ entry into new commercial arenas.
The company’s metamorphosis includes the addition of a non-fungible token (NFT) unit and disruption of the collectible card industry, including obtaining the coveted MLB license from rival Topps and NBA and NFL relationships from Panini.
Fanatics Online Focus
Fanatics’ game plans are squarely focused on higher margin online sites. For example, the USPTO record for Fanatics Casino makes no mention of a land-based casino.
‘Entertainment services, namely, providing a website for online gaming; Betting and gambling services and information services relating thereto; game services in the nature of casino games, casino games, free games and information services relating thereto; provision of information relating to sporting events; entertainment services, namely, providing online electronic games, providing online card games and online poker games; organization and conduct of sports competitions in the field of betting, gambling, online gambling, online casino games â, according to the file.
The patent applications do not mention when Fanatics will launch gaming and sportsbook offerings, or in which states the company’s games roster will debut.