NEW YORK (1010 WINS) -- Jay-Z is set to open a sportsbook in New York, according to a report on Monday from Page Six.
According to the outlet, the 51-year-old music mogul partnered with Michael Rubin’s Fanatics to make a bid with the New York State Gaming Commission which is set to open up mobile sports betting next year.
Redacted documents released last week by the New York State Gaming Commission regarding the bids revealed that Jay-Z will have executive roles of a new Fanatics Betting & Gaming company including vice-chairman as well as serve on the board of directors.
According to the documents, the Brooklyn-born rapper and the Fanatics group are bidding against competition including a consortium of FanDuel, DraftKings, BetMGM, and Bally’s.
Last week, Jay-Z and Roc Nation were valued at $18 billion afer becoming new investors in sports apparel giant Fanatics, securing $325 million in order to expand with the rapper there to “help attract new customers, engage existing sports bettors and expand the overall footprint of the Fanatics sportsbook.”
Sources told the outlet that the new Fanatics partnership with the Grammy winner would be headquartered in NYC before expanding its betting biz to additional markets.
The New York online sportsbooks are aiming to launch in early 2022 with bids that would be chosen by December, according to reports.