Jay-Z rolls dice to open New York sportsbook, partners with Fanatics!
Written by torresanz on August 16, 2021
JAY-Z is reportedly looking to enter the lucrative sports betting business in the Empire State. According to TMZ, Hov has submitted an application to the New York State Gaming Commission requesting approval for an online sports betting license.
The Marcy Projects mogul is partnering up with Philadelphia 76ers owner Michael Rubin to form Fanatics Sportsbook, a sports gambling arm of Rubin’s Fanatics company.
Hov recently invested in Fanatics as part of a $325 million round of funding, pushing the company’s valuation to a whopping $18 billion. The powerhouse pair also launched the criminal justice reform organization, REFORM Alliance, alongside Meek Mill in 2019.
JAY-Z and Michael Rubin face stiff competition for a sports betting license, though, with companies such as FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET having also thrown their hat in the ring. The NYS Gaming Commission will reportedly approve at least two of the six applications.
As the most prominent public figure applying for a license, JAY-Z’s fame and connections may well help Fanatics Sportsbook edge out the competition. The Gaming Commission has until December to make a decision.