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 within the business through his investment firm Revolution Growth.
Ted Leonsis, owner for the Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
This is certainly DraftKing’s second major round of funding in only over a year. In July 2015, the company surely could raise a $300 million war chest to greatly help finance its international ambitions, $150 million of which came from Fox Sports for an 11 percent stake in the organization.
The last round was before DraftKings and fellow market leader FanDuel were beset by appropriate difficulties, nonetheless. Facing a threat of billions of dollars in fines from New York Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as legal costs mounted.
Market Cap Unknown
The very good news, given that DFS has returned in New York, is that the industry is once again regarded as investable. And that’s despite DraftKings market cap being damaged by the various legal 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 also stated 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 businesses were engaged in negotiations regarding a merger, which personal investors in both companies had been pushing for a while.
Consolidation might have made sense, largely because regarding the sum of money both devote to attempting to out-market one another while offering an extremely service that is similar. Then there will be the costs become conserved from both companies’ different legal skirmishes in the US. Add the enhance in licensing fees and local fees as DFS becomes regulated for a gradual state-by-state basis, while the attractiveness of a merger becomes clear.
Consolidation Off the Table
In a statement that is official DraftKings CEO Jason Robins praised Revolution development’s ‘entrepreneurial outlook and spirit of innovation’ that ‘meshes perfectly with the culture of our business,’ also its ‘deep expertise in activities, technology, and policy.’
Revolution’s Steve Murray, who will join the DraftKings board of directors as part of the deal, stated that their company has the ‘expertise to greatly help entrepreneurs execute on their tips, especially where sports and policy intersect.’
If the merger is in fact off the table, chances are that FanDuel could initiate a brand new round of funding of unique in order to stay competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Illegal Gambling Crackdown
Philippines President Rodrigo Duterte is walking back commentary directed at US President Barack Obama. Just 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.
He arrived this week in China, a courtesy not afforded to President Obama though it was apparently Casual Monday for Rodrigo Duterte, the Philippine president still received the red carpet treatment when. (Image: Made Nagi/European Pressphoto Agency)
‘We look forward to ironing out our differences arising away from national priorities and perceptions,’ the more calculated and statement that is civil. ‘ Although the immediate cause had been my strong comments to specific press questions that elicited concern and distress, we additionally regret it came across as being a individual attack in the US president.’
Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, nevertheless now say they are rearranging the engagement.
Obama has indicated he wants to generally meet using the new Filipino president to confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has given law enforcement the directly to kill suspected drug operators and split up cartels, and nearly 2,000 killings have taken spot since the took that is 71-year-old on June 30, 2016.
Duterte recently did an about-face for a previous stance on internet gambling. After forcing the country’s gambling arm PAGCOR to not renew the working license for PhilWeb, he announced in late August that he had been 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 national nation have provided multimillions in tax revenue to the federal government. However for PhilWeb Corp and its owner Roberto Ongpin, the celebration seems to be over. PhilWeb had claimed a license that is exclusive operate the cafes that provide eGames, ahead of the Duterte dictum.
However with so many millions in potentially lost video gaming tax revenue on the line, Duterte’s strong moral convictions seem to have, um, disappeared.
‘Pay the taxes which are proper . . gamble until you die. I really do not really care,’ the Filipino president stated concerning the online gaming reinstatement.
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 taking part in running illegal lotteries and gambling.
On September 6, the top police chief in Cagayan de Oro City announced that his agency is increasing its efforts to restrict gambling that is non-regulated. The 10th-most populated city in the Philippines, the Cagayan de Oro chief stated he will resign if his department cannot eliminate illegal gambling bands from the city within two months.
Neighborhood officials say underground gaming is hampering product sales of town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief director associated with the Philippine National Police, claims his force will get after illegal gambling once the war that is present medications concludes in 6 months.
No Love from China
Duterte was not the only diplomat that is international to show respect to Obama this week, either.
Like Duterte, President Obama is in China now for the G20 Summit. But when the American president arrived, the conventional red carpet staircase very nearly solely utilized to welcome worldwide leaders was mysteriously missing.
In fact, Asia didn’t 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 move out of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If that were me, I would say, ‘You know what, folks, I respect you a complete lot but close the doors, let us get free from here.»
Trump made the remarks at an event in Ohio, and his challenger that is democratic was far away. 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 brand new CNN poll shows Trump leading Clinton by two percent, however the Real Clear Politics polling average still has the former secretary of state ahead by 3.3 points in exactly what’s growing to be among the most dramatic presidential campaigns of the last 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the brand new Black?’ Ad
A Paddy that is new Power ad campaign in Ireland may be raising some eyebrows, but there is nothing new in that. The Irish bookmaker famously goes where no other company would dare, but its latest work 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, it is all about what is on the exterior for the upcoming US presidential election. (Image: Paddy Energy)
Offering odds on one of many candidates running for president of the United States, Paddy Power’s new billboard advertisement bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the brand new that is black’ an use the 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. Although the Republican candidate appears to have softened his fake tan stance a little within the last couple of months, he’s been recognized to go full-throttle tangerine into the past.
Paddy energy installed the billboard in Dublin within the weekend, in preparation for the exhibition that is forthcoming game between Boston College and Georgia Tech, hoping to draw the interest of visiting Americans.
‘With the gridiron attracting hordes of American visitors we thought we’d let them have a little insight into how their Republican candidate is faring in the betting,’ said a spokesman for Paddy Power. ‘Despite a number of Trump’s comments being more ill-advised than his hair, the billionaire is still greatly in the competition and there is a practical chance that orange will be the new black colored.’
To be honest, we never ever did we think we would live to see the orange that is first associated with united states of america, but what itâ€™s likely that Paddy Power giving The Donald of making history now?
Odds on Donald
At 3/1 against, Paddy Power believes there exists a 25 percent chance of Trump making it to your White House, while Hillary Clinton remains the favorite that is 4/11. Paddy energy has said that should Trump win the election, its customers are set to make around €1 million ($1.12 million), a figure that’s anticipated to double in the coming months.
But while bookmakers are notoriously proficient at predicting the outcome of governmental events, we’re not sure it applies here. Within the United States, gambling on politics is illegal. And the vast majority of Paddy Power’s customers are Uk or Irish citizens, and therefore will never be voting.
Bearing that in mind, Paddy Power’s chances do not provide a cross-section of this opinions of US voters in almost any real way, shape, or form. It’s simply that more profit the united kingdom has been placed on Clinton. Along with the polls results in the US tightening between your two prospects, they could yet be painting the White House a deep shade of apricot come November 8 dolphin treasure slots youtube.
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 company. At the very least, that’s what one new city poll shows in the small town of less than 18,000 residents that rests about 80 miles outside of Las Vegas.
Based on a poll conducted by Public Opinion Strategies, a research that is virginia-based, 62 % of Mesquite residents support an area ordinance to completely ban smoking inside. That will replace the current legislation that continues to permit smoking at gambling enterprises, nightclubs, and some bars.
Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, after a new poll shows residents want clean air inside all company establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Indoor that is clean Air in 2006, making smoking inside workplaces and public buildings illegal.
But the clean air law included a carve-out for the state’s massive casino industry. And also the Mesquite Citizens for Clean Indoor Air group now wants to change that.
‘Everyone deserves to breathe clean interior air. Nobody should have to lose their health for a paycheck,’ the coalition attempting to amend the populous city legislation states.
With help seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all indoor smoking cigarettes at places of company and implement the newest statute in as little as 60 days.
‘It’s not up to your voters to choose. It is as much as the populous city leaders,’ Christine Picior, a coalition user, told The Spectrum.
The small town of Mesquite sits northeast of Las Vegas on the Nevada and Arizona border. The town that is historic heavily on tourism, having its casinos and pioneering history to lure visitors visiting and from las vegas regarding 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’s likely that local residents, whom also gamble, along with casino workers, are far more interested in their very own health that is long-term days.
In Macau, a similar crusade to ban smoking wasn’t very successful. Though smoking is confined to designated lounges, workers complained patrons frequently fail to adhere 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 does not 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 performing on behalf of casino employees called regarding 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 older than 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 couldn’t be the city that is first enforce such policies. Smoking is banned in all the major poker spaces in Las Vegas, though smoking on primary casino floors continues to be commonplace.
Down south in New Orleans, however, city officials extinguished all butts in casinos as of 2015 april. 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 in the year following the ordinance that is new.
Proponents of clean indoor air says Harrah’s is utilizing the smoking cigarettes ban as a justification, and point to riverboat casinos in the rest of Louisiana experiencing revenue that is similar beyond your smoking ban.
Perhaps Pennsylvania has the smoking predicament solved.
The Keystone State’s 12 casinos are permitted to designate as much as 50 percent of these floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, as they are in Las Vegas and many metropolitan areas across America today.