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Jay-Z Gives Fanatics Its Star Power As They Try To Get A Mobile Sports Betting License In New York

The rap icon and founder of Roc Nation was recently announced as the group’s vice chairman, following a $325 million investment that valued the merchandising company at $18 billion. In his new role, Jay-Z will provide advice on the strategic and creative direction of the sports merchandising giant, helping to expand the overall reach of the Fanatics sportsbook.

Last week, the company’s founder, Michael Rubin, outlined plans to expand the business beyond sporting goods using newly acquired betting, media and ticketing facilities. Former FanDuel CEO Matt King will run the Fanatics Sportsbook.

Speaking about the recent changes in the company, Rubin commented:

“We realized that we had an incredible opportunity… to really go from a leading e-commerce company to building a leading digital sports platform. This means that as a sports fan, you turn to Fanatics and get whatever sporting product is important to you.”

The mobile sports betting market in New York is set to open early next year and is expected to be incredibly lucrative. Currently, there are only four non-tribal 바카라s that can bet on sports in the city. Fanatics will face stiff competition as it joins several companies that filed applications this month to launch mobile sportsbooks, including FanDuel, DraftKings, Bally’s, BetMGM and Caesars Sportsbook.