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 business through his investment firm Revolution Growth.
Ted Leonsis, owner associated with Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
This is DraftKing’s second major round of financing in just over a year. In July 2015, the company surely could raise a $300 million war chest to simply help finance its international aspirations, $150 million of which arrived from Fox Sports for an 11 percent stake in the organization.
The final round had been before DraftKings and fellow market leader FanDuel were beset by legal difficulties, however. 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 appropriate 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 investable. And that’s despite DraftKings market cap being damaged by the different challenges that are legal has faced. In July 2015, the company was valued at around $2 billion, and while its valuation had not been disclosed during this round of investment, Eilers & Krejcik Gaming has calculated the organization’s worth to be around 1 / 2 of that figure today.
The analyst also stated that, in light regarding the 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 a while.
Consolidation might have made feeling, largely because for the amount of cash both spend on attempting to out-market one another and will be offering a really service that is similar. Then there would be the expenses to be saved from both businesses’ various skirmishes that are legal the US. Add the enhance in licensing fees and local fees as DFS becomes regulated for a state-by-state that is gradual, plus the attractiveness of a merger becomes clear.
Consolidation Off the Table
In a statement that is official DraftKings CEO Jason Robins praised Revolution Growth’s ‘entrepreneurial outlook and spirit of innovation’ that ‘meshes perfectly with the tradition of our company,’ along with its ‘deep expertise in sports, technology, and policy.’
Revolution’s Steve Murray, who will join the DraftKings board of directors included in the deal, stated that their company has the ‘expertise to simply help entrepreneurs execute on their ideas, especially where sports and policy intersect.’
If the merger is in fact off the dining table, the likelihood is that FanDuel could initiate a brand new round of funding of its 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. Just 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 out of nationwide priorities and perceptions,’ the more calculated and statement that is civil. ‘ Although the cause that is immediate my strong comments to certain press questions that elicited concern and distress, we additionally regret it came across being a personal attack regarding the US president.’
Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, but now state they are rearranging the engagement.
Obama has indicated he wants to meet up utilizing the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has given law enforcement the straight to destroy suspected drug operators and break up cartels, and nearly 2,000 killings have taken place since the took that is 71-year-old on June 30, 2016.
Duterte recently did an about-face for a stance that is previous internet gambling. After forcing the country’s gambling arm PAGCOR not to ever renew the operating license for PhilWeb, he announced in late August them are situated far enough away from schools and churches that he was willing to allow online gambling, if taxes were paid and if the gaming parlors that house.
Some 299 internet gaming cafes throughout the national nation have provided multimillions in tax revenue to the government. But for PhilWeb Corp and its own owner Roberto Ongpin, the ongoing celebration appears to be over. PhilWeb had claimed a license that is exclusive operate the cafes offering eGames, prior to the Duterte dictum.
However with so numerous millions in potentially lost video gaming tax income on the line, Duterte’s strong moral convictions seem to have, um, disappeared.
‘Pay the taxes being correct . . gamble until you die. I do not really care,’ the Filipino president said concerning the online gaming reinstatement.
Gaming Operators Enemy #2
Duterte has made no secret about their wishes to eradicate drug dealers through the Philippines. But close behind the narcotics trade are those taking part in running unlawful lotteries and gambling.
On September 6, your head police chief in Cagayan de Oro City announced that his agency could be increasing its efforts to restrict gambling that is non-regulated. The 10th-most city that is populated 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 sales of the town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief director for the Philippine National Police, states his force will go after illegal gambling once the present war on medications concludes in six months.
No Love from China
Duterte was not the just international diplomat failing to show respect to Obama this week, either.
Like Duterte, President Obama is in China now for the G20 Summit. But whenever the president that is american, the typical red carpet staircase very nearly solely utilized to welcome worldwide leaders was mysteriously missing.
In fact, 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 that have been me personally, I would personally say, ‘You know what, folks, I respect you a lot but close the doors, let’s escape here.”
Trump made the remarks at an event in Ohio, and his Democratic challenger was not a long way away. With both candidates recognizing the significance of winning Ohio, Clinton and Trump’s airplanes passed each other while taxiing on the tarmac at Cleveland’s Hopkins International Airport this week.
A new CNN poll shows Trump leading Clinton by two percent, but 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 one of the most dramatic presidential campaigns of the last 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the newest Black?’ advertisement
A Paddy that is new Power ad campaign in Ireland may be raising some eyebrows, but there’s absolutely nothing new in that. The Irish bookmaker famously goes where no other company would dare, but its latest work is perhaps the absolute most uncomfortably smirk-stifling yet.
Orange may be the New Black? Irish bookmaker Paddy Power is accustomed getting under individuals’s skin, but this time around, it’s https://myfreepokies.com/dolphin-treasure/ all about what is on the outside for the upcoming US election that is presidential. (Image: Paddy Power)
Providing odds on one of the applicants running for president of the United States, Paddy Power’s brand new billboard advertisement bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the new black?,’ an use the popular Netflix TV series about feamales in a minimum-security federal prison 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. Whilst the Republican candidate seemingly have softened his fake tan stance a little over the past month or two, he’s been known to go full-throttle tangerine within the past.
Paddy energy installed the billboard in Dublin within the weekend, in preparation for the forthcoming exhibition football game between Boston College and Georgia Tech, hoping to draw the interest of visiting Us americans.
‘With the gridiron attracting hordes of US visitors we thought we’d let them have 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 truly in the battle and there is a practical opportunity that orange will be the new black colored.’
To be honest, we never ever did we think we might live to see the first orange president of the usa, but what odds are Paddy Power giving The Donald of making history now?
Odds on Donald
At 3/1 against, Paddy Power believes there’s a 25 percent chance of Trump making it to the White House, while Hillary Clinton remains the 4/11 favorite. 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 expected to increase in the coming months.
But while bookmakers are notoriously great at predicting the outcome of governmental events, we’re maybe not sure it applies here. Into the United States, betting on politics is illegal. And the majority that is vast of Power’s customers are Uk or Irish citizens, and therefore will never be voting.
Bearing that in brain, Paddy Power’s chances usually do not offer a cross-section of this views of US voters in just about any real means, shape, or form. It is simply that more money in the united kingdom has been placed on Clinton. And with the polls results in the united states tightening between your two prospects, 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 least, that’s what one city that is new suggests 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 could replace the law that is current continues to permit smoking at casinos, nightclubs, and some bars.
Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, after having a poll that is new residents want climate 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 structures 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 one needs to lose their health for a paycheck,’ the coalition trying to amend the town legislation states.
With help seemingly current, the Mesquite City Council could introduce an ordinance to outlaw all smoking that is indoor places of company and implement the newest statute in as little as 60 days.
‘It’s not up to your voters to decide. It is as much as the city leaders,’ Christine Picior, a coalition member, told The Spectrum.
The city that is small of sits northeast of Las vegas, nevada on the Nevada and Arizona border. The town that is historic heavily on tourism, using its casinos and pioneering history to lure visitors visiting and from las vegas in the I-15 interstate.
It stays 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, who also gamble, along with casino workers, tend to be more enthusiastic about unique long-term wellness these days.
In Macau, a crusade that is similar ban smoking wasn’t very effective. Though smoking is confined to designated lounges, workers complained patrons frequently don’t comply with the mandate and continue smoking on the general casino floor. 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 numerous citizens are still heavy smokers for the reason that nation.
Final May, two lobbying organizations acting on behalf of casino employees called on the resorts to enact an one-day citywide indoor smoking ban on floors, smoking lounges, and VIP spaces. 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 gambling enterprises, it mightn’t be the city that is first enforce such policies. Smoking is banned in most of the major poker spaces in nevada, though smoking on primary casino floors stays commonplace.
Down south in New Orleans, however, city officials extinguished all butts in gambling enterprises as of 2015 april. Exiling smokers to outdoor ‘smoking lounges,’ aka metal benches, caused revenues to fall, according to Harrah’s brand New Orleans. The city’s only land-based casino said slot income fell 17 percent in the year following the new ordinance.
Proponents of clean interior atmosphere says Harrah’s is using the smoking ban as an excuse, and point to riverboat casinos in other areas of Louisiana experiencing revenue that is similar outside the smoking ban.
Possibly Pennsylvania has got the smoking predicament solved.
The Keystone State’s 12 casinos are allowed to designate as much as 50 percent of the floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, because they are in nevada and many urban centers across America today.