On Sept. 15, 2024, Brooklyn, New York-born billionaire and cultural icon Jay-Z made headlines by officially stepping into the sports betting arena. The grand opening of the first Fanatics Sportsbook took place at the Ocean Casino Resort in Atlantic City, marking a significant milestone in Jay-Z’s expanding business empire.
Celebrating the grand opening
At the ribbon-cutting ceremony, Jay-Z was joined by his partner, Michael Rubin, the Founder and CEO of Fanatics, alongside Fanatics Betting and Gaming CEO Matt King and Ocean Casino Resort General Manager Bill Callahan. This event not only celebrated the launch of the sportsbook but also highlighted Jay-Z’s growing influence in the sports and entertainment industries.
Immediately following the ceremony, 15-time PGA Tour winner Justin Thomas became the first patron to place a bet at the venue, wagering $100 on his alma mater, the University of Alabama, to win the NCAA football national championship. Although the official opening was on Sept. 15, the 12,000-square-foot sportsbook had already been operational since Sept. 5.
A star-studded event
The opening attracted several notable figures from the sports and entertainment world. Celebrities such as Quavo, Jalen Rose, Dez Bryant and Ryan Clark were in attendance, showcasing the crossover appeal of Jay-Z’s ventures.
Future plans in sports betting
Jay-Z‘s ambitions in the sports betting industry extend beyond the Fanatics Sportsbook. Two years prior, he and his company, Roc Nation, announced plans to collaborate with SL Green and Caesars Entertainment to establish a state-of-the-art gaming facility at 1515 Broadway in Times Square, New York City. This facility, proposed to be named Caesars Palace Times Square, aims to attract 7 million new visitors to the area, promising significant economic benefits for local businesses.
In a bid to address concerns and misinformation regarding their casino plans, Roc Nation took out full-page ads in prominent New York publications, including The New York Post and The Amsterdam News. The ad served as an open letter to “conflicted parties,” emphasizing the potential positive impact of the casino on the local economy.
Economic impact and community benefits
The proposed casino is expected to generate billions in economic benefits for Broadway and surrounding businesses, providing a much-needed boost to the local economy. However, as of now, no official decision has been made regarding the city’s approval of a casino in the heart of Times Square.
Jay-Z’s entry into the sports betting industry through the Fanatics Sportsbook is a testament to his entrepreneurial spirit and vision. As he continues to expand his influence in various sectors, including sports, entertainment and philanthropy, fans and followers eagerly anticipate what he will accomplish next.
