ShareGrammy-award winning rapper Jay-Z is fighting the likes of FanDuel, DraftKings, BetMGM to be awarded a sportsbetting licence in New York, the multi-millionaire entertainer hoping for a chunk of the nation’s $billion+ market.
51-year-old Jay-Z, real name Shawn Corey Carter, has joined forces with Michael Rubin of Fanatics fame and fortune, the world's leading provider of licensed sports merchandise, to take on existing sportsbetting giants in the soon-to-be opened NY market.
Fanatics Sportsbook will feature Rubin as the new chief executive and Jay-Z will serve as vice chairman and take a seat on the board of directors, according to documents filed with the New York State Gaming Commission.
The Fanatics team, reputed to be led by former FanDuel CEO Matt King, will be up against DraftKings, BetMGM, Caesars Sportsbook, WynnBET, as well as FanDuel itself.
King said of the potential new direction for Fanatics, “We’ve realized we have this incredible opportunity...to really transition from a leading e-commerce company to building the leading digital sports platform.”
He added: “That means, as a sports fan, you go to Fanatics and get any sports product that’s important to you.”
Roc Nation founder, Jay-Z, married to fellow singer-songwriter Beyonce, with whom he has three children, is famous for songs such as “99 Problems” and is considered one of the wealthiest and most ground-breaking music artists of all time, winning multiple awards over more than two decades.
He is also the only African American who is on the licence submissions currently being considered by the state’s gaming board, a factor that many think may be crucial.
If successful with his application, the Fanatics Sportsbook HQ will be based in New York City according to sources, who also stated that the new entity will “hire a diverse staff - race and gender-wise - as he's done with Roc Nation.”
The music mogul has previously held gaming licences from his days as the 40/40 Club owner, which ran properties in Las Vegas and Atlantic City.
The clubs’ name came from the Major League Baseball (MLB) stars who had achieved 40 home runs and 40 stolen bases in a single season. Co-incidentally, the MLB signed a deal with Fanatics just last year.
Last year Jay-Z was pictured with Kevin Hart at a poker and food evening in Beverly Hills, shortly after the comedian and movie star was released from hospital after a near-fatal crash.
