JAY-Z Cuts Ribbon At Opening Of Fanatics Sportsbook In Atlantic City

The billionaire is a partner in the venture with Founder and CEO of Fanatics, Michael Rubin.

Brooklyn-bred billionaire JAY-Z has officially entered the sports betting industry with the grand opening of the first Fanatics Sportsbook at the Ocean Casino Resort in Atlantic City.

The “Hard Knock Life” emcee cut the ribbon as his partner in the venture, Fanatics Founder and CEO Michael Rubin, was there along with Fanatics Betting and Gaming CEO Matt King and Ocean Casino Resort GM Bill Callahan. The event took place on Sept. 15.

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According to BreakingAC, immediately after the ribbon-cutting ceremony, 15-time PGA-winning golfer Justin Thomas was the first person to place a bet at the venue. He put down $100 on his alma mater, Crimson Tide, winning the NCAA football national championship.

Although the ribbon-cutting just occurred, the 12,000-square-foot venue has been open since Sept. 5.

TMZ reported that Quavo, Jalen Rose, Dez Bryant, and Ryan Clark also attended.

JAY-Z has bigger plans for the betting industry.

Two years ago, JAY-Z and his Roc Nation entity joined SL Green and Caesars Entertainment in announcing that they were trying to open a new, state-of-the-art gaming facility at 1515 Broadway in Times Square, New York City. Roc Nation took out an ad in several prominent NY publications like The New York Post, The New York Daily News, and The Amsterdam News in the form of an open letter addressing “conflicted parties” attempting to “spread misinformation” about their plans regarding the casino.

The trio of independent companies believes the facility, which will be named Caesars Palace Times Square, will generate seven million new visitors to Times Square. Native New Yorkers and tourists will bring billions in economic benefits to Broadway and area businesses.

No decision has been publicly made regarding the city’s decision to open a casino in the heart of the city.