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Jay-Z may no longer be in a New York state of mind. As AfroTech previously reported, the billionaire business mogul made a move to open a New York sportsbook in partnership with sports e-retailer Fanatics, making a bid with the New York State Gaming Commission back in August 2021. Now, according to 1010 WINS, the state’s gambling commission has approved nine mobile sports betting operators for the state, but neither Jay-Z-backed Fanatics nor Barstool Sports’ Penn Sports Interactive was recommended for a vote by the state. Thomas DiNapoli, the State’s comptroller, said that he estimates mobile sports gambling could bring in an excess of $500 million by 2025 to the state. But, it should be noted, the nine companies that were approved — including DraftKings, FanDuel, and BetMGM — have agreed to pay a tax rate of 51 percent to the state of New York to operate their companies in the state. So, perhaps this can be considered a “blessing in disguise” of sorts. Casinos and mobile companies...
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...