Fanatics has raised the stakes as it looks to acquire PointsBet's U.S. business. The sports platform company increased its offering by 50% to $225 million in an effort to outbid DraftKings , which made a non-binding offer of $195 million earlier this month. PointsBet shareholders will formally vote on the new offer Thursday night. "The Board unanimously supports the improved proposal from Fanatics Betting and Gaming, which provides a superior price plus certainty," PointsBet Chairman Brett Paton said in a statement. Fanatics CEO Michael Rubin told CNBC after the DraftKings announcement that he was highly skeptical of their proposed offer, which he viewed as DraftKings attempting to slow Fanatics down.

---

Persons: Michael Rubin, DraftKings, Brett Paton, PointsBet, Jason Robins, Paton, Rubin Organizations: PointsBet's, CNBC, PointsBet, U.S, Gaming Locations: New York, Melbourne, U.S, Australia, Canada