Jay-Z Applied For A Sports Betting License In New York, Plans To Open Up A Sportsbook
Is Jay-Z pursuing a new business venture?
Earlier today (Monday, Aug. 16th), TMZ reported that Jay-Z recently applied to obtain an online sports betting license. He is reportedly doing so with hopes of opening up a sportsbook, which is an establishment where people can place bets on various sporting events.
According to the outlet, Jay-Z (real name Shawn Carter) submitted the application with the New York Gaming Commission. Sources claim Jay-Z is partnering with Michael Rubin–the chairman of Fanatics–for the pursuit, and they’re allegedly planning to form a platform called Fanatics Sportsbook. Additionally, sources claim the pair is also partnering up with Kambi, a software company that specializes in virtual sports gambling. The New York Gaming Commission reportedly has until December to make a decision on Jay-Z‘s application.
Jay-Z‘s new business venture is his latest pursuit amid a busy summer. As previously reported, Jay-Z recently invested in Fanatics, helping it jump up to an $18 billion value. Additionally, Jay-Z just reopened his Manhattan-based sports bar, 40/40 Club–reportedly providing about 100 bartending and serving jobs in the process.
The rapper-turned-entrepreneur notably partnered up with Will Smith in order to invest in Landis Technologies, a company that helps low-income renters become homeowners. He is also still heavily involved in his entertainment company, Roc Nation.
What do you think about Jay-Z venturing into the world of sports gambling? Comment down below to let us know!