Bryn Mawr billionaire Michael Rubin, owner of manufacturer and retailer of licensed sports merchandise Fanatics, plans to invest $1 billion in the company’s new sports-betting division. Katherine Sayre reported the brand’s expansion for The Wall Street Journal.

Despite being late to the game, Rubin believes that he has a strong hand, thanks to Fanatics’ 95 million customers. He believes they offer the new division an edge over its gambling competitors.

His plans for the new venture are to connect gamblers with his reward programs, giving them the chance to get deals on merchandise, signed collectibles, and even access to athletes and games.

Rubin’s latest move is part of his vision to create a digital platform that would span businesses across sports, such as sports-team gear, autographed memorabilia, and trading cards.

“There’s not another company thinking about how do you give hundreds of millions — or maybe even long-term, billions — of sports fans one place to do everything they want to do digitally,” said Rubin. “That’s going to be buying merchandise, buying and trading collectibles, betting on sports. Over time, watching live sports, maybe getting tickets from our place.”

Read more about Fanatics’ new sports-betting division in The Wall Street Journal.

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Tycoon Michael Rubin comments on his accumulated wealth in this 2021 interview.