Rapper 50 Cent aka Curtis Jackson attends the 40th American Music Awards held at Nokia Theatre L.A. Live on Nov. 18, 2012 in Los Angeles

*50 Cent has just expanded his business portfolio.

The Nevada Athletic Commission said Monday that the rapper won approval last week for a promoter’s license, clearing the way for him to set up fights through his new company SMS promotions.

SMS is handling a Dec. 8 bout at the MGM Grand Garden Arena in Las Vegas between Cuban-born Miami-based boxer Yuriorkis Gamboa and an opponent yet to be named.

As previously reported, 50 Cent and boxer Floyd Mayweather Jr. had been talking about forming a promotions company called TMT Promotions, but the rapper told the commission those plans fell through, and the fledgling business was being absorbed by SMS Promotions.