Day-to-day 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 company through his investment firm Revolution development.
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 money in just over a year. In July 2015, the company surely could raise a $300 million war chest to greatly help finance its ambitions that are international $150 million of which arrived from Fox Sports for an 11 percent stake in the company.
The round that is last before DraftKings and other market leader FanDuel were beset by legal difficulties, nevertheless. Facing a threat of billions of bucks in fines from New York Attorney General Eric Schneiderman, DraftKings’ international expansion plans had been temporarily curtailed, as legal costs mounted.
Market Cap Unknown
The news that is good given that DFS has returned in New York, is that the industry is once again regarded as being investable. And that’s despite DraftKings market cap being damaged by the various challenges that are legal has faced. In July 2015, the business was valued at around $2 billion, and while its valuation was not disclosed during this round of investment, Eilers & Krejcik Gaming has projected the organization’s worth to be around 50 % of that figure today.
The analyst additionally said that, in light associated with the new investment, a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the companies had been engaged in negotiations regarding a merger, which personal investors in both companies had been pushing for some time.
Consolidation might have made feeling, largely because associated with sum of money both devote to wanting to out-market one another while offering an extremely service that is similar. Then there would be the costs to be conserved from both organizations’ various skirmishes that are legal the United States. Add the enhance in licensing charges 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 company,’ in addition to its ‘deep expertise in activities, technology, and policy.’
Revolution’s Steve Murray, whom will join the DraftKings board of directors as part of the deal, stated that his company has the ‘expertise to simply help entrepreneurs execute on their tips, especially where sports and policy intersect.’
If the merger is in fact off the table, it’s likely that FanDuel could initiate a new round of funding of its own in order to keep competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Illegal Gambling Crackdown
Philippines President Rodrigo Duterte is walking back feedback directed at US President Barack Obama. Simply hours after Duterte said he doesn’t answer to anybody ‘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 distinctions arising away from national priorities and perceptions,’ the more calculated and statement that is civil. ‘ Although the immediate cause was my strong comments to certain press questions that elicited concern and distress, we additionally regret it came across as a personal attack in the United States president.’
Obama’s team canceled the meeting upon hearing Duterte’s initial remarks, however now state they are rearranging the engagement.
Obama has indicated he wants to meet up aided by the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has offered law enforcement the right to kill suspected drug operators and split up cartels, and nearly 2,000 killings have taken place 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 renew the working 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 country have provided multimillions in tax revenue to the us government. But also for PhilWeb Corp and its particular owner Roberto Ongpin, the ongoing party seems to be over. PhilWeb had claimed an exclusive license to operate the cafes that provide eGames, prior to the Duterte dictum.
But with so many millions in potentially lost video gaming tax revenue on the line, Duterte’s strong moral convictions appear to have, um, disappeared.
‘Pay the taxes being proper . . gamble until you die. I actually do perhaps 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 eliminate drug dealers through the Philippines. But close behind the narcotics trade are those involved in running unlawful lotteries and gambling.
On September 6, the head police chief in Cagayan de Oro City announced that his agency will be increasing its efforts to restrict gambling that is non-regulated. The 10th-most populated city in myfreepokies.com the Philippines, the Cagayan de Oro chief said he will resign if his department cannot eliminate illegal gambling bands through the city within two months.
Local officials say underground gaming is hampering sales of the city’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief director of the Philippine National Police, says his force will go after illegal gambling once the current war on medications concludes in six months.
No Love from China
Duterte was not the just 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 normal red carpet staircase almost exclusively used to welcome worldwide leaders was mysteriously absent.
In reality, Asia don’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 won’t even give him stairs, proper stairs, to escape of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If which were me personally, i’d say, ‘You know what, folks, I respect you a lot but close the doors, let us get out of 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 growing to be among the most dramatic presidential campaigns of the past 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the latest Black?’ advertising
A new Paddy energy billboard ad campaign in Ireland may be raising some eyebrows, but there is nothing new in that. The Irish bookmaker famously goes where no other business would dare, but its latest effort is perhaps the absolute most uncomfortably smirk-stifling yet.
Orange could be the New Black? Irish bookmaker Paddy Power is used to getting under individuals’s skin, but this time, it is exactly about what’s on the outside for the upcoming US election that is presidential. (Image: Paddy Power)
Offering odds on one of the candidates running for president of the usa, Paddy Power’s new billboard advertising bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the new that is black’ an use the favorite Netflix TV series about ladies in a minimum-security federal jail whom wear orange jumpsuits.
The bookmaker manages to mock on our squeamishness at referencing competition and skin color, while lampooning the famously orange-faced Trump. Even though the Republican prospect appears to have softened his fake tan stance a little within the last couple of months, he’s been known to go full-throttle tangerine in the past.
Paddy Power installed the billboard in Dublin on the weekend, in preparation for the exhibition that is forthcoming game between Boston College and Georgia Tech, hoping to draw the interest of visiting People in america.
‘With the gridiron attracting hordes of American visitors we thought we’d give them an insight that is little how their Republican candidate is faring in the wagering,’ said a spokesman for Paddy Power. ‘Despite a number of Trump’s comments being more ill-advised than his hair, the billionaire is still really in the race and there exists a chance that is realistic orange could be the new black.’
To be honest, we never did we think we might live to see the first orange president associated with united states of america, but what odds are 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 in order to make around €1 million ($1.12 million), a figure that’s anticipated to increase in the months that are coming.
But while bookmakers are notoriously proficient at predicting the outcome of governmental events, we’re not sure it applies here. In the United States, wagering on politics is illegal. And the vast majority of Paddy Power’s customers are British or Irish citizens, and therefore will not be voting.
Bearing that in brain, Paddy Power’s chances usually do not provide a cross-section of this views of US voters in almost any real way, shape, or type. It’s simply that more money in great britain has been placed on Clinton. And with the polls leads to the united states tightening between the 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 ready to ban smoking that is indoor all places of company. At the least, that’s what one city that is new indicates in the small city of under 18,000 residents that rests about 80 miles outside of Las Vegas.
According to a poll conducted by Public Opinion Strategies, a research that is virginia-based, 62 per cent of Mesquite residents support an area ordinance to completely ban smoking inside. That will change the current law that continues to permit smoking at casinos, nightclubs, and some bars.
Smoking on gambling floors could quickly be prohibited inside Mesquite, Nevada casinos, following a poll that is new residents want clean air inside all company establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Clean Indoor Air Act in 2006, and made smoking inside workplaces and public buildings illegal.
But the air that is clean included a carve-out for the state’s massive casino industry. And the Mesquite Citizens for Clean Indoor Air group now wants to change that.
‘Everyone deserves to breathe clean interior air. Nobody needs to sacrifice their health for a paycheck,’ the coalition attempting to amend the town law states.
With help seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all indoor smoking cigarettes at places of business and implement the new statute in as little as 60 days.
‘It’s not up to the voters to decide. It’s as much as the populous town leaders,’ Christine Picior, a coalition user, told The Spectrum.
The small city of Mesquite sits northeast of Las vegas, nevada on the Nevada and Arizona edge. The town that is historic heavily on tourism, using its gambling enterprises and pioneering history to lure visitors visiting and from las vegas in the I-15 interstate.
It continues to be unclear whether a casino smoking ban would bring brand new bettors to Mesquite, or turn customers that are away faithful. But it is likely that local residents, whom also gamble, as well as casino workers, are more enthusiastic about their particular long-lasting wellness these days.
In Macau, a similar crusade to ban smoking was not very successful. Though smoking is confined to designated lounges, workers complained patrons often fail to adhere to the mandate and continue smoking on the general casino floor. In China (and Asia generally), the western’s campaign that links cigarettes and cancer doesn’t seem to have taken down much, if at all, and numerous citizens are still heavy cigarette smokers for the reason that country.
Last May, two lobbying organizations functioning on behalf of casino employees called on the resorts to enact a citywide that is one-day smoking ban on floors, smoking lounges, and VIP spaces. But with one in two 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 city that is first enforce such policies. Smoking is banned in all the poker that is major in Las Vegas, though smoking on main casino floors remains predominant.
Down south in New Orleans, however, city officials extinguished all butts in casinos as of April 2015. Exiling smokers to outdoor ‘smoking lounges,’ aka metal benches, caused revenues to fall, based on Harrah’s brand New Orleans. The city’s only land-based casino stated slot income dropped 17 percent in the 12 months following the ordinance that is new.
Proponents of clean interior air says Harrah’s is utilizing the cigarette smoking ban as a justification, and point to riverboat casinos in other areas of Louisiana experiencing similar revenue declines beyond your cigarette smoking ban.
Perhaps Pennsylvania has the smoking cigarettes predicament solved.
The Keystone State’s 12 casinos are permitted to designate up to 50 percent of the floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, since they are in vegas and many urban centers across America these days.