
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 development.
Ted Leonsis, owner of the Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
That is DraftKing’s second round that is major of in only over a year. In July 2015, the organization was able to raise a $300 million war chest to help finance its international aspirations, $150 million of which came from Fox Sports for an 11 percent stake in the business.
The final round had been before DraftKings and other market leader FanDuel were beset by appropriate difficulties, but. Facing a threat of billions of bucks in fines from New York Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as legal 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 investable. And that is despite DraftKings market cap being damaged by the various challenges that are legal 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 stated that, in light for the new investment, a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the firms were engaged in negotiations regarding a merger, which investors that are private both companies had been pushing for quite a while.
Consolidation might have made feeling, largely because associated with the amount of money both devote to wanting to out-market one another and will be offering a really similar solution. Then there will be the costs become conserved from both organizations’ various skirmishes that are legal the United States. Add the enhance in licensing costs and local fees as DFS becomes regulated on a state-by-state that is gradual, and 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,’ also its ‘deep expertise in recreations, 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 greatly help entrepreneurs execute on their a few ideas, especially where sports and policy intersect.’
If the merger is actually off the dining table, the likelihood is that FanDuel could start a brand new round of funding of its own in order to keep competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Prohibited Gambling Crackdown
Philippines President Rodrigo Duterte is walking back remarks directed at US President Barack Obama. Just hours after Duterte said he does not 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 differences arising out of national priorities and perceptions,’ the more calculated and statement that is civil. ‘ Although the immediate cause was my strong comments to particular press questions that elicited concern and distress, we also regret it came across as a individual attack on the US president.’
Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, however now state they are rearranging the engagement.
Obama has indicated he wants to meet utilizing the new Filipino president to confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has provided law enforcement the directly to destroy suspected drug operators and break up cartels, and almost 2,000 killings have taken spot considering that 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 never to renew the running 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 through the country have provided multimillions in tax revenue to the us government. But for PhilWeb Corp and its particular owner Roberto Ongpin, the party appears to be over. PhilWeb had claimed an exclusive license to operate the cafes that offer eGames, just before the Duterte dictum.
However with so numerous millions in potentially lost gaming tax revenue at stake, Duterte’s strong moral convictions may actually have, um, disappeared.
‘Pay the taxes which can be proper . . gamble until you die. I really do perhaps not really care,’ the Filipino president said in regards to the gaming reinstatement that is online.
Gaming Operators Enemy #2
Duterte has made no secret about their wishes to get rid of drug dealers from the Philippines. But close behind the narcotics trade are those involved in running unlawful lotteries and gambling.
On September 6, your 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 the Philippines, the Cagayan de Oro chief stated he will resign if his department cannot eliminate illegal gambling bands from the town within two months.
Neighborhood officials say underground gaming is hampering product sales of the town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager of the Philippine National Police, claims his force will go after illegal gambling once the war that is present drugs concludes in 6 months.
No Love from China
Duterte wasn’t the only 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 normal red carpet staircase nearly solely used to welcome worldwide leaders was mysteriously missing.
In reality, China didn’t provide a staircase even lift to Air Force One. Instead, Mr. Obama exited the plane from a staircase that is seldom-used happens from underneath the belly of the aircraft.
‘They won’t even give him stairs, proper stairs, to get 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 Democratic challenger wasn’t far. With both applicants 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 this week.
A 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 what’s growing 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 New Black?’ advertising
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 probably the most uncomfortably smirk-stifling yet.
Orange is 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 exterior 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 ad bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the newest 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. While the Republican candidate appears to have softened his fake tan stance a little over the past month or two, he’s been recognized to get full-throttle tangerine in the past.
Tangerine Dream
Paddy Power installed the billboard in Dublin over 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 the us.
‘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 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 greatly in the race and there’s a practical possibility that orange may be the new black colored.’
To be honest, we never ever did we think we would live to see the orange that is first for 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 is a 25 percent chance of Trump making it to your 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 increase in the months that are coming.
But while bookmakers are notoriously great at predicting the outcome of political events, we’re not sure it applies here. Within the US, wagering on politics is unlawful. And the vast most of Paddy energy’s clients are British or Irish citizens, and so will never be voting.
Bearing that in mind, Paddy Power’s odds usually do not offer a cross-section for the views of American voters in every means, shape, or kind. It’s simply that more money in the united kingdom has been placed on Clinton. And with the polls leads to the usa tightening between the two prospects, 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 indoor smoking at all places of company. At the least, that’s what one city that is new indicates in the small city of less than 18,000 residents that rests about 80 miles outside of Las Vegas.
According to 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 indoors. That could replace the law that is current continues to permit smoking at casinos, nightclubs, and some bars.
Smoking on gambling floors could quickly be prohibited inside Mesquite, Nevada casinos, after a brand new poll shows residents want clean air inside all company establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Clean Indoor Air Act 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. And the Mesquite Citizens for Clean Indoor Air group now wants to improve that.
‘Everyone deserves to breathe clean indoor air. No body must have to sacrifice their health for a paycheck,’ the coalition trying to amend the city law states.
With support seemingly current, the Mesquite City Council could introduce an ordinance to outlaw all indoor cigarette smoking at places of company and implement the newest statute in as little as 60 days.
‘It’s not up to the voters to choose. It is as much as the town leaders,’ Christine Picior, a coalition member, told The Spectrum.
Smoke-Free Impact
The small city of Mesquite sits northeast of nevada on the Nevada and Arizona border. The historic town relies heavily on tourism, having 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 away faithful customers. But it is likely that local residents, whom also gamble, as well as casino workers, are https://myfreepokies.com/dolphin-treasure/ more interested in unique health that is long-term days.
In Macau, a comparable crusade to ban smoking was not very effective. Though smoking is confined to designated lounges, workers complained patrons frequently neglect 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 doesn’t appear to have taken down much, if at all, and citizens that are many still heavy smokers in that nation.
Last May, two lobbying organizations acting on behalf of casino employees called regarding the resorts to enact an one-day citywide indoor smoking ban on floors, smoking lounges, and VIP rooms. 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 casinos, it wouldn’t be the very first city to enforce such policies. Smoking is banned in all of the major poker rooms in vegas, though smoking on main casino floors stays predominant.
Down south in New Orleans, however, city officials extinguished all butts in casinos as of April 2015. Exiling cigarette smokers to outdoor ‘smoking lounges,’ aka steel benches, caused revenues to fall, according to Harrah’s brand New Orleans. The city’s only land-based casino stated slot income dropped 17 percent in the year following the ordinance that is new.
Proponents of clean interior atmosphere says Harrah’s is utilizing the cigarette smoking ban as a reason, and point to riverboat casinos in other areas of Louisiana experiencing revenue that is similar beyond your 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 these floor for smoker-friendly gaming. Dining areas are 100 smoke-free that is percent because they are in Las Vegas and most urban centers across America today.