Fanatics hires finance chief for sports-betting division before launch
Fanatics is getting closer to launching its sports-gambling division. Andrea Ellis will be the chief financial officer of the division, which is expected to launch in January. The company has been valued at more than $27 billion. There are more that 50 sports betting operators. Fanatics applied for a mobile-betting license in New York last fall, but was not selected. Some executives say the industry is ripe for consolidation. It's not inconceivable that the top two or three operators will drive 60 to 70% of market. FanDuel CEO Amy Howe thinks it's only a matter of time before the market consolidates.
