Before decades end. . .
Jay-Z opens 1st door Manhattan, New York Casino following his major investment in sports betting with the owner of the Philadelphia 76ers. Following their $325 million investment in the Fanatic sports e-commerce platform, more information has emerged this week.
Jay-Z and Philadelphia 76ers co-owner Michael Rubin applied for an official New York gaming license to form Fanatics Sportsbook. Fanatics is currently valued at $18 million and holds partnerships with all major sports leagues in America.
Along with the initial Fanatics investment, Jay has also teamed up with software designers at Kambi, who develop for sports gaming operations. This is where things get tricky, as Jay is looking to get approved in December by the New York Gaming Commission to upstart his own sports betting app before Super Bowl LVI next February 2022.
In the past, Jay-Z had gaming licenses in Las Vegas and Atlantic City, which were hosts to his popular 40/40 clubs. With the borough of Queens having their own Resorts World Casino, the very first legalized Manhattan casino in the modern world will be backed by this same group.
Considering Jay-Z’s long-standing friendship with Rubin starting this initial move, look for the same group of affiliates to make their bid in efforts to pick a spot within mid-town and lower Manhattan to plot a destination.
Along with Robert Kraft and Roger Goodell likely to support this major move in New York City, stay tuned for official details from Jay-Z regarding this situation to happen after his app launches.
New York State Online Sports Betting Timeline – August 2021
New York’s rollout of sports betting has been slow in the past, but it’s picking up some serious steam. Here are some key dates you need to be aware of:
• December 6, 2021: Tentative deadline for selecting two applicants to launch at least four sports betting skins each.
• September 1, 2021: Applicants can begin presenting oral presentations to the NYS Gaming Commission.
• August 9, 2021: NYS Gaming Commission releases a list of current applicants for online sports betting, which included Kambi Group, FanDuel, bet365, FOX Bet, and theScore Bet.
• July 9, 2021: NYS Gaming Commission releases its finalized request for applications, detailing the evaluation criteria and other details.
• August 2021: NYS Gaming Commssion receives bids from top sportsbooks hopefuls.