For Fanatics Betting and Gaming chief executive Matt King, the challenge he is taking on isn’t building a market leader. He’s already done that during his tenure at FanDuel, which is currently sitting with a seemingly unassailable market share across the US. Revenue there grew from $200m to over $1bn on his watch.

Fanatics Inc. is late to the sports-betting game. Its chief executive thinks he has a strong hand.

FedEx Field made history Friday by partnering with Fanatics to open the first legal sports betting operation inside an NFL stadium.

It was halftime of a 76ers game, and the owners’ lounge, in the bowels of Wells Fargo arena, was humming: Bartenders poured Opus One wine into plastic cups; Pat’s cheesesteaks lined the buffet table; and those lucky enough to have courtside seats for the game filed in to mingle.

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.

Sports-merchandise retailer Fanatics Inc. has hired Jason White as chief marketing officer of Fanatics Betting and Gaming, its nascent online sports-gambling division.