76ers’ co-owner to launch gambling sportsbook

Another sports gambling giant could be on the way. Earlier this morning, Adam Schefter reported that 76ers’ co-owner Michael Rubin and Jay-Z are applying for a gambling license in New York to form Fanatics Sportsbook. The process is likely to take a few months, but it’s possible that Fanatics Sportsbook would be one of the biggest in the country.

If you’re unaware, Fanatics is also owned by Rubin and is the largest sporting goods supplier in the country. Fanatics runs almost all of the professional league stores and provides their own branded jerseys for the NBA and NHL. Michael Rubin is also one of the most vocal owners of the 76ers, often sitting courtside with several other celebrities.

Several prominent sportsbooks have been popping up over the last year while the industry continues to explode. It’s unclear when the site eventually launches if it will just be a New York-based sportsbook or if it will be available in other states as well.

Mandatory Credit: Kevin Mazur Getty Images for Fanatics