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Jay-Z is seemingly adding to his portfolio of business ventures after the rap legend’s name recently appeared on a betting license application in his home state.
According to TMZ, the “Mood 4 Eva” rapper and Philadelphia 76ers’ part owner Michael Rubin teamed up with Kambi, an online sports gambling software company, to start Fanatics Sportsbook.
Hov and Rubin aren’t the only ones seeking approval from the NY Gaming Commission though. The outlet reported at least five other groups have also applied for online sports gambling licenses, and the commission will reportedly approve two. With the Jay-Z's star power, the group may have a better change to get the green light to join the billion dollar industry. Last year, the online sports betting industry brought in a massive $1.55 billion.
The 51-year-old Brooklyn native is also reportedly the only Black applicant among the licensing hopefuls. Though other groups may have Black employees, he'd be the actual license holder.
Jay-Z is also no stranger to holding gaming licenses, holding licenses in Nevada and New Jersey at his now-closed 40/40 Clubs in Vegas and Atlantic City.
The commission has until December to make a decision on which company gets the licenses.
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