DraftKings Bids $195 Million For PointsBet Assets, Outbids Fanatics

DraftKings made an offer to buy PointsBet's U.S. business for $195 million.
The offer surpassed a bid from rival Fanatics Betting and Gaming.
Fanatics founder and CEO Michael Rubin had made a $150 million deal for PointsBet's US unit.
PointsBet has been losing tens of millions of dollars and was seeking bids in the range of $1 billion a year ago.
PointsBet's board of directors will evaluate the DraftKings offer, but the company continues to recommend that shareholders vote in favor of the Fanatics transaction.