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The Wall Street Journal: Fanatics hires CFO for sports-betting division ahead of next year’s launch

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Sports-merchandising company Fanatics Inc. has picked a finance chief for its sports-betting and gambling division ahead of its planned launch early next year.

Jacksonville, Fla.-based Fanatics on Tuesday named Andrea Ellis as chief financial officer of its betting and gambling unit. Ellis was most recently CFO for about two years at electric-scooter company Lime. Before that, she held senior roles in finance at Restaurant Brands International Inc., which owns brands including Burger King and Tim Hortons.

Ellis will report to Matt King, the division’s chief executive. King joined Fanatics last year from rival FanDuel Group, where he was CEO.

Fanatics earlier this year raised $1.5 billion from investors including Fidelity Management & Research Co. and funds managed by BlackRock Inc., giving the company a $27 billion valuation. The company has been working to expand beyond its core business of providing sports merchandise and memorabilia for professional sports teams. Earlier this year, it acquired Topps Co.’s trading-card division, accelerating its growth in the business.

An expanded version of this report appears on WSJ.com.

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