JAY-Z reportedly submitted an application to the “NY Gaming Commission requesting approval for an online sports betting license,” as per TMZ.
Hov is partnering with Michael Rubin to form Fanatics Sportsbook, and they joined forces with a company named Kambi that develops software for online sports gambling.
FanDuel, DraftKings, BetMGM, Caesars Sportsbook and WynnBET have all applied for applications in New York as well and the outlet reports that the state will approve at least two of the companies.
JAY-Z previously dabbled in the billion dollar industry when he had his 40/40 Clubs in Vegas and New Jersey. So it’s no surprise that he decided to re-route especially after recently investing in Fanatics, raising the company’s value to $18 billion.