Jay-Z rolls dice to open New York sportsbook, partners with Fanatics – Page Six

Hes in an Empire State of mind.

Jay-Z is making a move to open a sportsbook in New York, sources confirm to Page Six.

The music mogul and Roc Nation founder, 51, has partnered with Michael Rubins Fanatics to make a bid with the New York State Gaming Commission as it prepares to open up mobile sports betting next year.

As part of the plan, Jay-Z will serve as vice chairman and be on the board of directors of a new Fanatics Betting & Gaming entity. His role as an executive was revealed in redacted documents released last week by the New York State Gaming Commission regarding the bids, but were told his name as a potential license holder was blocked out.

According to the documents, the Grammy-winning rapper and the Fanatics group are bidding against competition including a consortium of FanDuel, DraftKings, Ballys and BetMGM. Other groups include Caesars Sportsbook.

According to the redacted documents, the Fanatics Betting & Gaming executive team would have Matt King as CEO. He was formerly the CEO of betting giant FanDuel.

Sources said that Jay-Z has a strong hand as the only African American investor to appear on the gaming licenses submitted to the state. Hes also one of the only names with such close ties to New York.

A source told Page Six, Hes a native New Yorker, and Roc Nation is a diverse company. Jay-Z is New York.

The revelation comes after Jay-Z and Roc Nation last week were among new investors in sports apparel giant Fanatics, which secured $325 million in order to expand and is now valued at $18 billion. According to Bloomberg, Rubin is seeking to expand his company beyond sports apparel into gaming, ticketing and media.

The redacted documents said that Jay-Z and Roc Nation would help [Fanatics gaming division] attract new customers, engage existing sports bettors and expand the overall footprint of the Fanatics sportsbook.

Sources said that the new Fanatics partnership with the Big Pimpin' performer would be headquartered in NYC and would also expand its betting biz to other markets.

The Fanatics bid also includes sports betting tech company Kambi.

According to reports, the New York online sportsbooks are aiming for an early 2022 launch, and the bids would be chosen by December. Reports also said that the gaming commission has to pick at least two of the groups vying for the licenses. Other sources told Page Six that the commission must pick at least four of the bidders.

Its the latest business move for Jay-Z. We reported that he sold off a stake in his Champagne brand, Armand de Brignac, to Mot Hennessy earlier this year. He also owns DUss cognac and is on the board of Square after it bought his streaming service, Tidal.

Page Six most recently reported that Jay-Z was hiring 100 staffers to reopen his 40/40 Club in Manhattan and will celebrate the club 18th anniversary this month.

A rep did not immediately comment.

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Jay-Z rolls dice to open New York sportsbook, partners with Fanatics - Page Six