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Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-13842"></span>nsis DraftKings Investment Sign of Possible DFS Market Revitalization

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 within the company through his investment firm Revolution development.

Ted Leonsis, owner associated with the Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.

This is certainly DraftKing’s second round that is major of in only over a year. In July 2015, the company was able to raise a $300 million war chest to help finance its ambitions that are international $150 million of which arrived from Fox Sports for the 11 percent stake in the company.

The final round ended up being before DraftKings and fellow market leader FanDuel were beset by legal difficulties, but. 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 investable. And that is despite DraftKings market cap being damaged by the many 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 said that, in light associated with investment that is new 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 personal investors in both companies had been pushing for a while.

Consolidation might have made sense, largely because for the amount of money both invest in trying to out-market one another and will be offering a really service that is similar. Then there will be the expenses to be conserved from both organizations’ different legal skirmishes in the US. Add the increase in licensing costs and local taxes as DFS becomes regulated for 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 tradition of our company,’ in addition to 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 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 in fact off the table, chances are that FanDuel could start a brand new round of funding of a unique in order to keep competitive.

Rodrigo Duterte Backtracks US Comments, Country Continues Illegal Gambling Crackdown

Philippines President Rodrigo Duterte is walking back responses directed at US President Barack Obama. Just hours after Duterte said he does not answer to anyone ‘except the Filipino people’ and called Obama a ‘son of a bitch’ in his Tagalog that is native 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. ‘ While the immediate cause had been my strong comments to specific press questions that elicited concern and distress, we also regret it came across being a individual attack in the United States 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 satisfy with all the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has given law enforcement the right to kill suspected drug operators and split up cartels, and nearly 2,000 killings have taken destination since the 71-year-old took office 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 not to ever renew the operating license for PhilWeb, he announced in late August that he had been willing to allow on line gambling, if taxes were paid and if 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 federal government. But also for PhilWeb Corp and its particular 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 numerous millions in potentially lost video gaming tax income at risk, Duterte’s strong moral convictions seem to have, um, disappeared.

‘Pay the taxes that are proper . . gamble until you die. I actually do not really care,’ the Filipino president said about the gaming reinstatement that is online.

Gaming Operators Enemy #2

Duterte has made no secret about his wishes to get rid of drug dealers from the Philippines. But close behind the narcotics trade are those taking part in running unlawful lotteries and gambling.

On September 6, the head police chief in Cagayan de Oro City announced that his agency would 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 through the city within two months.

Neighborhood officials say underground video gaming is hampering product 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 war that is present medications concludes in 6 months.

No Love from Asia

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 when the president that is american, the conventional red carpet staircase nearly solely utilized to welcome international leaders was mysteriously absent.

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 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’s get free from here.”

Trump made the remarks at an event in Ohio, and his challenger that is democratic was far away. 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 this week.

A brand 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 the most dramatic presidential campaigns of days gone by 100 years.

Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the latest Black?’ advertisement

A Paddy that is new Power ad campaign in Ireland might 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 work is perhaps the most uncomfortably smirk-stifling yet.

Orange is the New Black? Irish bookmaker Paddy Power is accustomed getting under people’s skin, but this time around, it is exactly about what is on the exterior for the upcoming US presidential election. (Image: Paddy Energy)

Providing odds on one of the candidates running for president of america, Paddy Power’s new billboard ad bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the brand new black?,’ an use the most 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 battle and skin color, while lampooning the famously orange-faced Trump. Although the Republican candidate seemingly have softened his fake tan stance a little within the last month or two, he’s been recognized to get full-throttle tangerine in the past.

Tangerine Dream

Paddy energy 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 Americans.

‘With the gridiron attracting hordes of American 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 a number of Trump’s comments being more ill-advised than his hair, the billionaire is still quite definitely in the competition and there is a chance that is realistic 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 associated with United States, but just what it’s likely 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 Power 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 double in the months that are coming.

But while bookmakers are notoriously good at predicting the outcome of political events, we’re perhaps not sure it applies here. In the United States, betting on politics is unlawful. And the vast most of Paddy energy’s clients are Uk or Irish citizens, and so will never be voting.

Bearing that in mind, Paddy Power’s chances do not provide a cross-section of the views of US voters in just about any real means, shape, or form. It’s simply that more money in the united kingdom has been placed on Clinton. And with the polls leads to the US tightening between your 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 business. At the least, that’s what one city that is new suggests in the small city of fewer than 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 firm, 62 percent of Mesquite residents support an area ordinance to completely ban smoking inside. That will change the current legislation that continues to permit cigarette smoking at gambling enterprises, nightclubs, and some bars.

Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, after a poll that is new residents want clean air inside all business establishments. (Image: Danny Drake/Press of Atlantic City)

Nevada passed the Clean Indoor Air Act in 2006, making smoking cigarettes inside workplaces and public structures illegal.

But the clean air law 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 interior air. Nobody should have to lose their health for a paycheck,’ the coalition trying to amend the populous town legislation states.

With help seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all smoking that is indoor places of company and implement the latest statute in as little as 60 days.

‘It’s not up to the voters to determine. It is up to the town leaders,’ Christine Picior, a coalition member, told The Spectrum.

Smoke-Free Impact

The city that is small of sits northeast of vegas on the Nevada and Arizona border. The town that is historic heavily on tourism, using its gambling enterprises and pioneering history to lure visitors visiting and from las vegas regarding the I-15 interstate.

It stays unclear whether a casino smoking ban would bring new bettors to Mesquite, or turn away faithful customers. But it is likely that local residents, who also gamble, as well as casino workers, are far more interested in their long-term health these days.

In Macau, a crusade that is similar ban smoking was not very effective. Though smoking is confined to designated lounges, workers complained clients often neglect to comply with the mandate and continue smoking on the basic casino floor. 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 numerous citizens are still heavy cigarette smokers for the reason that nation.

Final May, two lobbying organizations acting on behalf of casino employees called in the resorts to enact an one-day citywide indoor smoking ban on floors, smoking lounges, and VIP rooms. But with one in 2 Chinese citizens avove 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 couldn’t be the first city to enforce such policies. Smoking is banned in all the poker that is major in Las Vegas, though smoking on main casino floors stays 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 steel benches, caused revenues to fall, based on Harrah’s brand New Orleans. The city’s only land-based casino said slot income dropped 17 percent in the year following the brand new ordinance.

Proponents of clean interior air says Harrah’s is utilising the smoking ban as an excuse, and point to riverboat casinos in other areas of Louisiana experiencing similar income decreases outside the smoking cigarettes ban.

Possibly Pennsylvania has the smoking cigarettes 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 vegas and most metropolitan areas across America these days.

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