When it comes to his latest investment, Jay-Z is betting it all and getting in on the sports gambling action. Page six reports that the billionaire business mogul is making a move to open a New York sportsbook in partnership with sports e-retailer Fanatics and has already made a bid with the New York State Gaming Commission. Documents show that both Jay-Z and the Fanatics group are bidding against some stiff competition that includes companies like FanDuel, DraftKings, Bally’s, BetMGM and Caesars Sportsbook. Additionally, the outlet reports that the new move will also reportedly have Jay-Z serve as vice chairman of Fanatics as well as on the board of directors of a new Fanatics Betting & Gaming entity. In association with the current bids, the rapper’s role as an executive was revealed in redacted documents released by the New York State Gaming Commission last week, but his name as a potential license holder was reportedly blocked out. Those same documents are also said to have...

NBA legend Michael Jordan is expanding his business prowess as a newly tapped “special advisor” on the board of directors for DraftKings , the fantasy sports and sports betting company. Also, he’s set to receive an undisclosed equity stake, according to USA Today . CNN reports DraftKings adding Jordan’s name to the company’s stake raised their stocks significantly, sending shares around 6 percent higher in early trading. “Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” said Jason Robins — DraftKings co-founder and CEO — in a press statement . “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.” Forbes reports that effective immediately, Jordan will step into his new role to provide “guidance and strategic advice to the board of directors on key business initiatives undertaken by the sports technology and entertainment...