Jay-Z Applies For Sports Betting License in NYC
Written by Jay Holz on August 16, 2021
Jay-Z continues to expand his empire. Reported earlier today (Aug 16), the hip-hop mogul has applied for an online sports betting license in NYC. Hov is joined by good friend and 76ers’ owner Michael Rubin to form Fanatics Sportsbook, a sports gambling arm of Rubin’s Fanatics company.
The icon 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. Safe to say Rubin and Hov know how to work well together.
While Fanatics Sportsbook would be an amazing move for them, they will face some tough competition. Powerhouse companies such as FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET have also applied for the license. The NYS Gaming Commission will reportedly approve at least two of the six applications.
Good luck to Jay and Rubin on their latest venture. We’ll see how it all plays out.