Mr. Wright has stepped down from his role as Senior Vice President of Trading at FanDuel Betting and Gaming (FBG).
Wright joined FanDuel in May 2022, coming from his previous position as Head of Trading at KingMakers.
During Wright’s time at FanDuel, the company launched its sports betting product in January 2023. With its launch at FedEx Field in Maryland, FanDuel became the first operator to open a retail sports betting operation inside a National Football League stadium.
FanDuel has since expanded across the United States, launching its online casino in November 2023. In addition, during Wright’s time at FBG, the company acquired the US operations of PointsBet for $225 million (£179.2 million/€208.5 million).
Wright said in a LinkedIn post that he was “extremely thankful” for his time at FanDuel helping to build its betting and gaming division.
“It’s time to take a break, spend more time with family, and then look for a new opportunity,” Wright said.
“Good luck to the FanDuel Betting and Gaming team. I’ll be rooting for you from afar!”
PointsBet deal drives FanDuel expansion
Following the acquisition of PointsBet’s US operations, FanDuel finalized the acquisition last week and went live in New Jersey.
FanDuels sports wagering platform is now active in twenty American states, taking over operations previously managed by PointsBet. The company claims its debut in the Garden State signifies coverage of nearly ninety-five percent of the US online betting market.
PointsBet users in New Jersey will experience an automatic transfer of their account details, including login credentials and personal information, to FanDuels platform.
New Jersey holds special significance for FanDuels launch due to the legality of online gambling establishments. This marks FanDuels fourth state to introduce its online casino, following Michigan, Pennsylvania, and West Virginia.
The acquisition of PointsBet by FanDuel was finalized after an initial agreement valuing the deal at one hundred and fifty million dollars. DraftKings submitted a competing offer of one hundred and ninety-five million dollars, driving up the price, but FanDuel ultimately secured the deal in June of 2023.
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