Shawn Carter is many things.
Rap legend. Former part-owner of the Brooklyn Nets. Media and business mogul.
Now, the man known as Jay-Z is into the world of legalized gambling, a co-founder of Fanatics Sportsbook that not only operates in the New York sports betting market but also just opened its first New Jersey retail sportsbook at Ocean Casino Resort in Atlantic City.
That gives Jay-Z a retail footprint on one side of the Hudson River. He could do the same on the New York side thanks to his partnership with the Caesars Palace Times Square downstate casino proposal.
Completing that feat, however, will require patience. Much patience.
Jay-Z opens first retail Fanatics Sportsbook in Atlantic City
Some three years ago, Jay-Z invested in Fanatics to become a partner. It was around this time that Fanatics executives announced the company’s intention to evolve from just a sports merchandiser to something greater. Two years later, in 2023, Fanatics acquired PointsBet’s US operations to enter the legal gambling landscape.
That, of course, paved the way for the launch of Fanatics Sportsbook NY.
Jay-Z has since seen Fanatics continue to expand, including the opening of the first Fanatics retail operation in Atlantic City last weekend.
“It’s an exciting day in our company’s continuous evolution as we announce the opening of Fanatics Sportsbook at Ocean Casino Resort,” Ari Borod, chief business officer for Fanatics Betting & Gaming, said in a press release ahead of the opening.
“As Fanatics grows its gaming presence in New Jersey, Ocean represents the perfect partner to deliver an elevated retail sports betting experience at the premier hotel in Atlantic City.”
Naturally, Jay-Z was there to cut the ribbon for the grand opening of the sportsbook, which spans 12,000 square feet and features slot machines, tables games, and 140 feet of LED walls.
Now, Jay-Z looks to continue expanding the reach of his company Roc Nation in New York City.
Roc Nation aims for NYC roots with Caesars Palace
Recall in 2022, when Roc Nation joined the team of SL Green and Caesars Entertainment as part of a proposal to build Caesars Palace Times Square.
The goal was simple: to “help revitalize Times Square.”
“New York is a beacon, the epicenter of culture,” Jay-Z said at the time. “We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world.
“My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth and enrichment for the community, and everyone who visits the Empire State.”
Doing so, however, will require plenty of patience.
Completing NY casino crossover will take some time
After all, the process to award three downstate licenses – which could allow holders to offer NY online casinos once lawmakers legalize iGaming – has already dragged on for over a year and a half since regulators issued the request for applications.
The Gaming Facility Location Board hopes to announce the winning bidders by late 2025, but Sen. Joseph Addabbo intends to introduce legislation to speed up that timeline.
“The current applicants that we think of, they’re getting frustrated,” Addabbo told PlayNY. “They’re ready. They’ve been ready. And now they’re getting frustrated because of the delay.
“The message that we’re sending is, ‘It’s not fun to do business in New York at this point, is it?’ Especially as it relates to the downstate licenses. This process is questionable. It’s becoming embarrassingly delayed, and that’s not right. That’s not what we voted on in 2022.”
