Jay-Z and Michael Rubin are linking up in pursuit of a new sportsbook in New York.
Monday, TMZ reported that Jay’s name is on a recent New York State Gaming Commission application asking for approval for an online sports betting license. Per the tabloid’s sources, Jay and Rubin are aiming to form Fanatics Sportsbook, which is set to include work from online sports betting software platform provider Kambi.
State officials are expected to be giving the go-ahead to “at least” two of the six groups currently in competition for approval, with Monday’s report noting that Jay-Z has an arguable advantage. At any rate, a decision from the New York State Gaming Commission isn’t expected until closer to December.
The larger plan for Fanatics Sportsbook, according to the report, is for the brand to be based in New York City. Furthermore, the company’s staff will be built with diversity in mind. Jay-Z, notably, previously had gaming licenses in multiple states during the height of the 40/40 Club era.
A source confirmed the report to Complex.
Earlier this month, Jay-Z and Roc Nation were reported to have invested in Rubin’s Fanatics, which was most recently valued at $18 billion.
Rubin, who is a managing partner of Philadelphia 76ers and serves as co-chair of the prominent criminal justice organization Reform Alliance, recently gave a special shout-out to another frequent collaborator—Meek Mill—for his Nelson Mandela Changemaker Award honor.
“You’ve made such an impact in criminal justice reform and we’re just getting started,” Rubin said.
