During the second investor day within a year, Fanatics delivered presentations explaining its future growth strategy to over 100 prospective institutional investors from big firms such as Barclays and Goldman Sachs.
Fanatics is looking to use the funds for potential merger and acquisition opportunities across its gaming, collectibles, and betting businesses.
Fanatics Collectibles will become the provider of WWE’s physical and digital trading cards.
According to those familiar with the matter, Fanatics will use the proceeds from the round to expand its business activity and go beyond its existing business lines.
The company is probably considering IPO, but later. At present, it seems to focus on growing and expanding into new markets such as online gambling and NFTs.