Fanatics, a leading global sports retailer, has appointed Andrea Ellis as the Chief Financial Officer (CFO) of Fanatics Betting & Gaming (FBG), the company’s online sports betting and igaming division. In her new role, Ellis will oversee business and financial planning and analysis across FBG’s finance functions, including accounting, budgeting, tax, and cost management. With her extensive experience in finance and innovative growth strategies, Ellis is poised to play a pivotal role in the success and global expansion of FBG’s dynamic online sports betting and gaming product.
Andrea Ellis Joins Fanatics Betting & Gaming:
Andrea Ellis, previously the CFO of electric scooter and bike share company Lime, brings a wealth of experience to her new position at Fanatics Betting & Gaming. With a background in leading finance and growth functions across large-scale consumer brands, Ellis is well-equipped to drive FBG’s financial strategies and contribute to the overall growth of Fanatics’ global digital sports platform.
Key Responsibilities as CFO:
As CFO of Fanatics Betting & Gaming, Ellis will be responsible for supervising the division’s finance functions, including accounting, financial planning and analysis, budgeting, tax management, and cost control. Her strategic insights and financial expertise will play a critical role in guiding FBG’s business operations, ensuring efficiency, and driving long-term success in the competitive sports betting and igaming landscape.
Leadership Under FBG CEO Matt King:
Ellis will report directly to FBG CEO Matt King, a seasoned industry leader known for his vision and expertise in the sports betting arena. King expressed excitement about Ellis joining the team, particularly as FBG prepares to launch its dynamic online sports betting and gaming product for sports fans worldwide. With Ellis’ diverse background and passion for finance and consumer products, her role is expected to be instrumental in FBG’s growth and global scaling endeavors.
Thriving Opportunities in Online Sports Betting:
FBG’s strategic move to establish an online sports betting and igaming division comes at a time when the sports betting industry is witnessing substantial growth and adoption. With increasing legalization and fan interest, the online sports betting market presents exciting opportunities for Fanatics to leverage its established global sports platform and cater to the passionate sports fanbase.
Maryland Lottery and Gaming Commission Approval:
In a significant development, the Maryland Lottery and Gaming Commission granted Fanatics initial approval for a sports wagering facility operator license in June. This milestone further solidifies Fanatics’ entry into the sports betting arena and underscores the company’s commitment to delivering innovative and immersive sports betting experiences to its customers.
The appointment of Andrea Ellis as CFO of Fanatics Betting & Gaming signifies the company’s strategic focus on capitalizing on the growing online sports betting and igaming market. Ellis’ impressive track record in finance and her passion for consumer products make her an ideal fit for guiding FBG’s financial strategies and contributing to the long-term success of Fanatics’ dynamic sports betting offering. As Fanatics continues to expand its global digital sports platform and prepare for the launch of its new online sports betting product, Ellis’ leadership and expertise are expected to play a key role in driving the division’s growth and establishing Fanatics as a prominent player in the competitive sports betting industry.