CNBC: Fanatics Hires Finance Chief for Sports-Betting Division Before January Launch

Fanatics is getting one step closer to launching its highly anticipated sports-gambling division, nearly five years after the Supreme Court overturned the rule preventing states from legalizing bets on sporting events.

The sports platform and e-commerce company, which has been valued at more than $27 billion, said Tuesday it hired Andrea Ellis to be the chief financial officer of its betting and gaming division. Fanatics CEO Michael Rubin said last week the company expects to launch the unit in January.

Fanatics enters a crowded market in an uncertain economy at a time some executives say is ripe for consolidation. Yet Rubin is betting the company’s e-commerce success will translate into sports-betting customers…