Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization
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 ongoing business through his investment firm Revolution Growth.
Ted Leonsis, owner of this Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
This might be DraftKing’s second major round of funding in only over a year. In July 2015, the organization surely could raise a $300 million war chest to aid finance its ambitions that are international $150 million of which came from Fox Sports for the 11 percent stake in the organization.
The last round had been 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 were temporarily curtailed, as appropriate costs mounted.
Market Cap Unknown
The news that is good given that DFS has returned in New York, is the fact that industry is once again regarded as being investable. And that’s despite DraftKings market cap being damaged by the different 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 also stated that, in light associated with the investment that is new a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the firms had been engaged in negotiations regarding a merger, which personal investors in both companies had been pushing for quite a while.
Consolidation might have made feeling dolphin treasure slot machine download, largely because of the amount of money both spend on wanting to out-market one another and will be offering a really similar service. Then there will be the costs to be saved from both businesses’ various 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, therefore the attractiveness of a merger becomes clear.
Consolidation Off the Table
In an official statement, DraftKings CEO Jason Robins praised Revolution Growth’s ‘entrepreneurial outlook and spirit of innovation’ that ‘meshes perfectly with the culture of our business,’ along with its ‘deep expertise in recreations, technology, and policy.’
Revolution’s Steve Murray, who will join the DraftKings board of directors as part of the deal, said that their company has the ‘expertise to aid entrepreneurs execute on their a few ideas, especially where sports and policy intersect.’
If the merger is actually off the dining table, it’s likely that FanDuel could start a new round of funding of its very own in order to keep competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Prohibited 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 out of national priorities and perceptions,’ the more calculated and statement that is civil. ‘ Although the immediate cause ended up being my strong comments to certain press questions that elicited concern and distress, we also regret it came across as a personal attack on the US president.’
Obama’s team canceled the meeting upon hearing Duterte’s initial remarks, but now state they are rearranging the engagement.
Obama has indicated he wants to generally meet because of the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has offered law enforcement the straight to kill suspected drug operators and break up cartels, and almost 2,000 killings have taken destination considering that the took that is 71-year-old on June 30, 2016.
Duterte recently did an about-face on a previous stance on internet gambling. After forcing the nation’s gambling arm PAGCOR not to renew the running license for PhilWeb, he announced in late August that he had been willing to allow online gambling, if taxes were paid and if the gaming parlors that house them are situated far sufficient away from schools and churches.
Some 299 internet gaming cafes throughout the national country have provided multimillions in tax revenue to the us government. However for PhilWeb Corp and its particular owner Roberto Ongpin, the ongoing party appears to be over. PhilWeb had claimed an exclusive license to operate the cafes offering eGames, ahead of the Duterte dictum.
However with so millions that are many potentially lost video gaming tax income at stake, Duterte’s strong moral convictions may actually have, um, disappeared.
‘Pay the taxes being proper . . gamble until you die. I do maybe not really care,’ the Filipino president said about the online gaming reinstatement.
Gaming Operators Enemy #2
Duterte has made no secret about their wishes to eliminate drug dealers from the Philippines. But close behind the narcotics trade are those tangled up in running lotteries that are illegal gambling.
On September 6, the pinnacle 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 city that is populated 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.
Neighborhood officials say underground video gaming is hampering sales of the city’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 drugs 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 American president arrived, the normal red carpet staircase almost exclusively used to welcome worldwide leaders was mysteriously missing.
In fact, China don’t provide a staircase even lift to Air Force One. Instead, Mr. Obama exited the plane from a seldom-used staircase that happens from underneath the belly of the aircraft.
‘They won’t 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. 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 many most dramatic presidential campaigns of days gone by 100 years.
Paddy Power Irish Billboard Pokes Fun At Trump with ‘Is Orange the latest Black?’ advertisement
A brand new Paddy energy billboard ad campaign in Ireland might 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 used to getting under people’s skin, but this time, it is exactly about what’s on the exterior for the upcoming US election that is presidential. (Image: Paddy Power)
Providing odds on one of the candidates running for president of the usa, Paddy Power’s new billboard advertisement bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the latest black?,’ a play on the most popular Netflix TV series about feamales in a minimum-security federal jail whom wear orange jumpsuits.
The bookmaker manages to mock on our squeamishness at referencing skin and race color, while lampooning the famously orange-faced Trump. As the Republican prospect seems to have softened his fake tan stance a bit over the past few months, he’s been proven to get full-throttle tangerine into the past.
Paddy energy installed the billboard in Dublin over 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 American visitors we thought we’d let them have a little understanding of how their Republican candidate is faring in the betting,’ said a spokesman for Paddy Power. ‘Despite a few of Trump’s comments being more ill-advised than his hair, the billionaire is still greatly in the battle and there exists a practical possibility that orange may be the new black colored.’
To be honest, we never ever did we think we’d live to see the first orange president for the United States, but what itâ€™s likely 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 towards 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 make around €1 million ($1.12 million), a figure that’s likely to increase in the months that are coming.
But while bookmakers are notoriously great at predicting the outcome of political events, we’re maybe not sure it applies here. Into the US, betting on politics is unlawful. And the majority that is vast of energy’s customers are British or Irish citizens, and therefore will never be voting.
Bearing that in mind, Paddy Power’s odds do not provide a cross-section for the views of US voters in every real method, shape, or form. It’s simply that more money in the UK has been placed on Clinton. Along with the polls leads to the united states tightening between the two candidates, they could yet be painting the White House a deep shade of apricot come November 8.
Mesquite, Nevada Voters Want Smoke-Free Casinos, But Can Gaming Business Survive?
In Mesquite, Nevada, voters are set to ban smoking that is indoor all places of business. At the least, that’s what one new town poll suggests in the small city of under 18,000 residents that rests about 80 miles outside of Las Vegas.
In accordance with a poll conducted by Public Opinion Strategies, A virginia-based research company, 62 per cent of Mesquite residents support an area ordinance to completely ban smoking inside. That will replace the current legislation 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 new poll shows residents want climate inside all business establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Indoor that is clean Air 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. Therefore the Mesquite Citizens for Clean Indoor Air group now wants to alter that.
‘Everyone deserves to breathe clean air that is indoor. Nobody needs to lose their health for a paycheck,’ the coalition working to amend the populous city law states.
With support seemingly current, the Mesquite City Council could introduce an ordinance to outlaw all smoking that is indoor places of business and implement this new statute in as little as 60 days.
‘It’s not up to your voters to choose. It’s as much as the populous town leaders,’ Christine Picior, a coalition member, told The Spectrum.
The city that is small of sits northeast of vegas on the Nevada and Arizona border. The historic city relies heavily on tourism, using its casinos and pioneering history to lure visitors visiting and from las vegas in the I-15 interstate.
It remains unclear whether a casino smoking ban would bring new bettors to Mesquite, or turn away faithful customers. But it is likely that local residents, whom also gamble, also casino workers, are more interested in 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 clients frequently neglect to adhere to the mandate and continue smoking on the casino floor that is general. In China (and Asia generally), the western’s campaign that links cigarettes and cancer does not appear to have taken off much, if at all, and citizens that are many still heavy cigarette smokers in that nation.
Last 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 spaces. However with one in two Chinese citizens older than 15 reportedly a smoker that is regular the casino companies didn’t budge.
No Hurray for Harrah’s
If Mesquite opts to ban smoking from its gambling enterprises, it couldn’t be the very first city to enforce such policies. Smoking is banned in all of the major poker spaces in nevada, though smoking on main casino floors continues to be predominant.
Down south in New Orleans, however, city officials extinguished all butts in gambling enterprises as of April 2015. Exiling cigarette smokers to outdoor ‘smoking lounges,’ aka metal benches, caused revenues to fall, according to Harrah’s New Orleans. The city’s only land-based casino said slot income dropped 17 percent within the 12 months after the brand new ordinance.
Proponents of clean indoor air says Harrah’s is using the smoking cigarettes ban as a reason, and point to riverboat casinos in other parts of Louisiana experiencing similar income declines outside the smoking cigarettes ban.
Perhaps Pennsylvania has got the smoking predicament solved.
The Keystone State’s 12 casinos are permitted to designate as much as 50 percent of the floor for smoker-friendly gaming. Dining areas are 100 smoke-free that is percent because they are in Las Vegas and many urban centers across America today.