Andrea Ellis brings expertise in technology to Fanatics, having served for two years as Lime's CFOFanatics
Fanatics has made another C-suite hire for its still-to-launch Betting & Gaming division, naming ANDREA ELLIS to the CFO role. Ellis joins Fanatics from the transportation company Lime, where she also was the CFO for two years. Prior to Lime, Ellis spent time at Restaurant Brands International. At Fanatics, Ellis will report to Fanatics Betting & Gaming CEO MATT KING, who joined Fanatics in 2021 after being CEO of FanDuel. Ellis’s hire is the second big addition in the last two months for Fanatics’ new division, which hired JASON WHITE as its CMO in mid-September. Fanatics CEO MICHAEL RUBIN discussed the company's betting plan at last week's CAA World Congress of Sports (Josh Carpenter, SBJ).
PLACE YOUR BETS: CNBC.com's Jess Golden noted Fanatics "enters a crowded market in an uncertain economy at a time some executives say is ripe for consolidation." Yet Rubin is "betting the company’s e-commerce success will translate into sports-betting customers." Ellis "brings expertise in technology, products and operations to the Fanatics executive team." She will be "tasked with scaling the new division and providing strategic and operational leadership" (CNBC.com, 10/18). The WALL STREET JOURNAL's Kristin Broughton notes Fanatics "declined to share financial forecasts for its sports-betting division, which doesn’t currently generate revenue." The company is "currently seeking and has submitted sports-betting licenses in five states." It "expects to have licenses in 15 to 20 states" by the time the 2023 NFL season begins. King "declined to share details about the division’s planned product offering, but said that the industry has room to improve when it comes to consumer satisfaction with sports-betting apps" (WALL STREET JOURNAL, 10/19).
