Fanatics’ splashy $150 million acquisition of PointsBet’s U.S. enterprise wasn’t the one deal in playing in latest days — and it could possibly be an indication of extra to come back.

Fanatics on Sunday introduced it has agreed to buy PointsBet’s U.S. belongings, a long-rumored tie-up. Fanatics CEO Michael Rubin beforehand vowed to launch sports activities betting operations in every state where it’s legal, besides New York.

Buying PointsBet offers Fanatics market entry in New York, together with some 14 different states, and importantly its iGaming, or on-line on line casino video games, enterprise in Michigan.

For Fanatics, the deal actually pays off in terms of upfront licensing charges it might must pay in new states.

“We’re really able to save tens of millions of dollars worth of upfront license fees by leveraging PointsBets footprint versus going at it with a new footprint,” stated Matt King, Fanatics CEO of Betting and Gaming, on Monday.

King additionally stated the associated fee to enter new markets has declined between 40% and 50% in comparison with the place it was roughly three to 5 years in the past.

Now examine that to a different blockbuster deal within the sector: the $1.2 billion acquisition of NeoGames by Aristocrat. The deal, introduced Sunday, was for $29.50 a share, marking a 130% premium to NeoGames’ closing value Friday.

Aristocrat is a worldwide chief in attention-getting slot machines. With its buy of NeoGames, it is declaring its intent to compete in on-line lottery, on line casino and sports activities betting.

As Jeffries gaming analyst David Katz wrote in a be aware Sunday night time, “[NeoGames] and the digital gaming group in general, is undervalued by the US market at present levels.” Still, he does not count on greater valuations within the close to future.

Just as importantly, in keeping with Katz, the latest offers elevate the query of, “Who’s Next?”

As the excitement over mergers and acquisitions dominates at gaming conferences, hypothesis has fallen on SportRadar, a worldwide sports activities knowledge supplier, as a possible takeover goal, in addition to Gambling.com, an affiliate enterprise that gives media content material to funnel new depositors towards gaming operators.

Rush Street Interactive, one other frequent goal of acquisition hypothesis as of late, is working to flex its muscle as an iGaming operator first, sports activities betting home second.

At the SBC Summit, a high sports activities playing convention, final week CNBC requested RSI CEO Richard Schwartz whether or not he is entertaining presents.

“We have an obligation to shareholders and to get the best return we can. And so we’re always open to evaluate opportunities,” he stated, earlier than highlighting the explanation why RSI can be engaging.

Fanatics’ King agrees extra consolidation is probably going on the best way.

“There really is no new capital kind of coming into this category,” he stated. “Anybody without a sustainable business model is going to be ripe for an acquisition.”

But do not count on sky-high costs in terms of gaming acquisitions, King stated.

“I think certainly people’s price expectations have started to reflect reality,” he added.

— CNBC’s Jessica Golden contributed to this report.