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FanDuel Among Approved Nine Mobile Sports Operators In New York — Jay-Z-Backed Fanatics Out

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...