Daily fantasy sports market leader DraftKings has raised $153 million in new investment money. Ted Leonsis, the billionaire owner of the Washington Capitals and Washington Wizards sports teams, has bought a significant, but undisclosed, stake into the ongoing company through his investment firm Revolution Growth.
Ted Leonsis, owner of the Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
This is certainly DraftKing’s second round that is major of in just over a year. In July 2015, the organization was able to raise a $300 million war chest to simply help finance its international ambitions, $150 million of which came from Fox Sports for an 11 percent stake in the organization.
The round that is last before DraftKings and fellow market leader FanDuel were beset by appropriate difficulties, however. Facing a threat of billions of bucks in fines from ny Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as appropriate costs mounted.
Market Cap Unknown
The great news, given that DFS is back in New York, is that the industry is once again regarded as being investable. And that is despite DraftKings market cap being damaged by the many appropriate challenges it has faced. In 2015, the company was valued at around $2 billion, and while its valuation was not disclosed during this round of investment, Eilers & Krejcik Gaming has estimated the company’s worth to be around half of that figure today july.
The analyst additionally said that, in light of this new investment, a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the companies were engaged in negotiations regarding a merger, which investors that are private both companies had been pushing for quite a while.
Consolidation could have made sense, largely because regarding the amount of cash both invest in attempting to out-market one another while offering a tremendously similar solution. Then there would be the expenses become conserved from both companies’ different legal skirmishes in the US. Add the increase in licensing costs and local taxes as DFS becomes regulated on a gradual state-by-state basis, plus the attractiveness of a merger becomes clear.
Consolidation Off the Table
In an official statement, DraftKings CEO Jason Robins praised Revolution development’s ‘entrepreneurial outlook and spirit of innovation’ that ‘meshes perfectly with the tradition of our business,’ also its ‘deep expertise in sports, technology, and policy.’
Revolution’s Steve Murray, who will join the DraftKings board of directors within the deal, said that their company has the ‘expertise to help entrepreneurs execute on the some ideas, especially where sports and policy intersect.’
If the merger is in fact off the dining table, it is likely that FanDuel could initiate a brand new round of funding of its very own in order to remain competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Prohibited Gambling Crackdown
Philippines President Rodrigo Duterte is walking back reviews directed at US President Barack Obama. Simply hours after Duterte said he doesn’t answer to anyone ‘except the Filipino people’ and called Obama a ‘son of a bitch’ in his native Tagalog, the Philippines leader issued a quasi-apology through his spokesman.
Though it was apparently Casual Monday for Rodrigo Duterte, the Philippine president still received the red carpet treatment whenever he arrived this week in China, a courtesy perhaps not afforded to President Obama. (Image: Made Nagi/European Pressphoto Agency)
‘We look forward to ironing out our distinctions arising out of national priorities and perceptions,’ the more calculated and civil statement read. ‘ Even though the immediate cause ended up being my strong comments to certain press questions that elicited concern and distress, we additionally regret it came across as a individual attack in the US president.’
Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, nevertheless now state they are rearranging the engagement.
Obama has indicated he wants to generally meet aided by the new Filipino president to confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has provided law enforcement the straight to destroy suspected drug operators and split up cartels, and nearly 2,000 killings have taken destination since the 71-year-old took office on June 30, 2016.
Duterte recently did an about-face on a previous stance on internet gambling. After forcing the country’s gambling arm PAGCOR not to ever renew the running license for PhilWeb, he announced in late August that he was willing to allow on the web gambling, if taxes were paid and in case the gaming parlors that home them are situated far enough away from schools and churches.
Some 299 internet gaming cafes through the entire national nation have provided multimillions in tax revenue to the federal government. But for PhilWeb Corp and its own owner Roberto Ongpin, the ongoing celebration seems to be over. PhilWeb had claimed a license that is exclusive operate the cafes that offer eGames, ahead of the Duterte dictum.
But with so millions that are many potentially lost gaming tax revenue at risk, Duterte’s strong moral convictions appear to have, um, disappeared.
‘Pay the taxes which can be correct . . gamble until you die. I really do maybe not really care,’ the Filipino president stated in regards to the gaming reinstatement that is online.
Gaming Operators Enemy #2
Duterte has made no secret about their wishes to eradicate drug dealers from the Philippines. But close behind the narcotics trade are those involved with running lotteries that are illegal gambling.
On September 6, the head police chief in Cagayan de Oro City announced that his agency is increasing its efforts to restrict non-regulated gambling. The 10th-most city that is populated the Philippines, the Cagayan de Oro chief said he will resign if his department cannot eliminate illegal gambling rings through the city within two months.
Neighborhood officials say underground video gaming is hampering product sales of town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief director of this Philippine National Police, says his force will go after illegal gambling once the present war on medications concludes in six months.
No Love from Asia
Duterte was not the just diplomat that is international to show respect to Obama this week, either.
Like Duterte, President Obama is in Asia now for the G20 Summit. But whenever the American president arrived, the typical red carpet staircase nearly solely used to welcome worldwide leaders was mysteriously missing.
In reality, Asia did not provide a staircase even lift to Air Force One. Instead, Mr. Obama exited the plane from a staircase that is seldom-used comes out from underneath the belly of the aircraft.
‘They will not even give him stairs, proper stairs, to get out of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If that have been me personally, i’d state, ‘You understand what, folks, I respect you a lot but close the doors, let us escape here.”
Trump made the remarks at an event in Ohio, and his Democratic challenger was not far. This week with both candidates recognizing the importance of winning Ohio, Clinton and Trump’s airplanes passed each other while taxiing on the tarmac at Cleveland’s Hopkins International Airport.
A new CNN poll shows Trump leading Clinton by two percent, however the Real Clear Politics average that is polling has the former secretary of state ahead by 3.3 points in exactly what’s turning out to be one of the most dramatic presidential campaigns of days gone by 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the latest Black?’ Ad
A Paddy that is new Power ad campaign in Ireland may be raising some eyebrows, but there’s nothing new in that. The Irish bookmaker famously goes where no other company would dare, but its latest effort is perhaps the most uncomfortably smirk-stifling yet.
Orange is the New Black? Irish bookmaker Paddy Power is accustomed getting under individuals’s skin, but this time around, it is all about what is on the outside for the upcoming US election that is presidential. (Image: Paddy Energy)
Offering odds on one of many prospects running for president of the usa, Paddy Power’s brand new billboard advertisement bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the newest black?,’ a play on the most popular Netflix TV series about ladies in a minimum-security federal prison who wear orange jumpsuits.
The bookmaker manages to mock on our squeamishness at referencing skin and race color, while lampooning the famously orange-faced Trump. A bit over the past few months, he’s been known to go full-throttle tangerine in the past while the Republican candidate appears to have softened his fake tan stance.
Paddy Power installed the billboard in Dublin over the weekend, in preparation for the forthcoming event football game between Boston College and Georgia Tech, hoping to draw the interest of visiting Us citizens.
‘With the gridiron attracting hordes of US visitors we thought we’d give them an insight that is little how their Republican candidate is faring in the betting,’ said a spokesman for Paddy Power. ‘Despite some of Trump’s comments being more ill-advised than his hair, the billionaire is still greatly in the battle and there is a chance that is realistic orange could be the new black colored.’
To be honest, we never ever did we think we might live to see the orange that is first of this United States, but just what odds are Paddy Power giving The Donald of making history now?
Odds on Donald
At 3/1 against, Paddy Power believes there is a 25 percent chance of Trump making it to the White House, while Hillary Clinton remains the 4/11 favorite. Paddy Power has said that should Trump win the election, its customers are set to help make around €1 million ($1.12 million), a figure that’s likely to double in the months that are coming.
But while bookmakers are notoriously good at predicting the outcome of governmental events, we’re maybe not sure it applies here. Into the United States, gambling on politics is illegal. And the majority that is vast of Power’s customers are Uk or Irish citizens, and so will not be voting.
Bearing that in mind, Paddy Power’s chances usually do not provide a cross-section associated with the viewpoints of American voters in every real way, shape, or kind. It’s simply that more profit the UK has been placed on Clinton. And with the polls results in the united states tightening between your two applicants, they could yet be painting the White House a shade that is deep of come November 8.
Mesquite, Nevada Voters Want Smoke-Free Casinos, But Can Gaming Business Survive?
In Mesquite, Nevada, voters are set to ban indoor smoking at all places of business. At the very least, that’s what one new town poll shows in the small town of under 18,000 residents that sits about 80 miles outside of Las Vegas.
According to a poll conducted by Public Opinion Strategies, A virginia-based research firm, 62 % of Mesquite residents support a local ordinance to completely ban smoking inside. That could replace the law that is current continues to permit cigarette smoking at casinos, nightclubs, and some bars.
Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, following a poll that is new residents want clean air inside all business establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Indoor that is clean Air in 2006, making cigarette smoking inside workplaces and public buildings illegal.
But the air that is clean included a carve-out for the state’s massive casino industry. As well as the Mesquite Citizens for Clean Indoor Air group now wants to improve that.
‘Everyone deserves to breathe clean air that is indoor. No body must have to sacrifice their health for a paycheck,’ the coalition attempting to amend the populous town law states.
With support seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all indoor smoking cigarettes at places of company and implement this new statute in as little as 60 days.
‘It’s not up to the voters to determine. It is up to the city leaders,’ Christine Picior, a coalition user, told The Spectrum.
The city that is small of sits northeast of Las Vegas on the Nevada and Arizona border. The historic town relies heavily on tourism, which consists of casinos and pioneering history to lure visitors coming to and from Sin City in the I-15 interstate.
It remains unclear whether a casino smoking ban would bring brand new bettors to Mesquite, or turn away faithful customers. But it is likely that local residents, whom also gamble, in addition to casino workers, are far more interested in their health that is long-term days.
In Macau, a similar crusade to ban smoking wasn’t very effective. Though smoking is confined to designated lounges, workers complained patrons usually fail to conform to the mandate and continue smoking on the casino floor that is general. In China (and Asia generally), the West’s campaign that links cigarettes and cancer doesn’t seem to have taken off much, if at all, and citizens that are many still heavy smokers in that nation.
Final May, two lobbying organizations acting on behalf of casino employees called on the resorts to enact a citywide that is one-day smoking cigarettes ban on floors, smoking lounges, and VIP rooms. But with one in 2 Chinese citizens over the age of 15 reportedly a regular smoker, the casino companies didn’t budge.
No Hurray for Harrah’s
If Mesquite opts to ban smoking from its casinos, it mightn’t be the first city to enforce such policies. Smoking is banned in most of the major poker rooms in Las Vegas, though smoking on primary casino floors remains common.
Down south in New Orleans, however, city officials extinguished all butts in gambling enterprises as of April 2015. Exiling smokers to outdoor ‘smoking lounges,’ aka metal benches, caused profits to fall, in accordance with Harrah’s brand New Orleans. The city’s only land-based casino stated slot income fell 17 percent into the 12 months following the new ordinance.
Proponents of clean interior air says Harrah’s is using the smoking ban as a justification, and point to riverboat casinos in other parts of Louisiana experiencing similar revenue declines beyond your smoking myfreepokies.com ban.
Perhaps Pennsylvania has the cigarette smoking predicament solved.
The Keystone State’s 12 casinos are allowed to designate up to 50 percent of these floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, since they are in Las Vegas and many metropolitan areas across America these days.