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 business through his investment firm Revolution Growth.
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 DraftKing’s second round that is major of in only over a year. In July 2015, the business was able to raise a $300 million war chest to greatly help finance its international aspirations, $150 million of which arrived from Fox Sports for an 11 percent stake in the organization.
The last round was before DraftKings and other market leader FanDuel were beset by appropriate difficulties, nevertheless. Facing a threat of billions of dollars in fines from New York Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as appropriate costs mounted.
Market Cap Unknown
The great news, given that DFS is back 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 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 said that, in light of 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 private investors in both companies had been pushing for some time.
Consolidation could have made feeling, largely because of the amount of money both invest in attempting to out-market one another while offering a really similar solution. Then there are the expenses to be saved from both businesses’ different legal skirmishes in the United States. Add the increase in licensing charges and local fees as DFS becomes regulated on a gradual state-by-state basis, plus the attractiveness of a merger becomes clear.
Consolidation Off the Table
In a statement that is official DraftKings CEO Jason Robins praised Revolution development’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, whom will join the DraftKings board of directors included in the deal, said that his company has the ‘expertise to greatly help entrepreneurs execute on the tips, especially where sports and policy intersect.’
If the merger is actually off the table, it’s likely 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 Prohibited Gambling Crackdown
Philippines President Rodrigo Duterte is walking back feedback 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.
Though it absolutely was apparently Casual Monday for Rodrigo Duterte, the Philippine president still received the red carpet treatment whenever he arrived this week in China, a courtesy perhaps not afforded to President Obama. (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 civil statement read. ‘ Even though the immediate cause was my strong comments to certain press questions that elicited concern and distress, we also regret it came across being a individual attack regarding the United States president.’
Obama’s team canceled the meeting upon hearing Duterte’s initial remarks, nevertheless now say they are rearranging the engagement.
Obama has indicated he wants to meet up with all the Filipino that is new president confront the latter’s handling of illegal drug dealers and extrajudicial killings. Duterte has given law enforcement the straight to kill suspected drug operators and break up cartels, and almost 2,000 killings have taken destination since 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 never to renew the working 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 national nation have provided multimillions in tax revenue to the government. But also for PhilWeb Corp and its own owner Roberto Ongpin, the celebration is apparently over. PhilWeb had claimed an exclusive license to operate the cafes that offer eGames, ahead of the Duterte dictum.
But with so millions that are many potentially lost video gaming tax revenue on the line, Duterte’s strong moral convictions seem to have, um, disappeared.
‘Pay the taxes being correct . . gamble until you die. I actually do maybe not really care,’ the Filipino president stated 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 through the Philippines. But close behind the narcotics trade are those tangled up in running lotteries that are illegal gambling.
On September 6, the top police chief in Cagayan de Oro City announced that his agency would be increasing its efforts to restrict non-regulated gambling. 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 rings from the town within two months.
Neighborhood officials say underground video gaming is hampering product sales of the town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager associated with 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 Asia
Duterte wasn’t the only 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 whenever the president that is american, the typical red carpet staircase very nearly solely utilized to welcome worldwide leaders was mysteriously absent.
In reality, Asia don’t even provide a staircase lift to Air Force One. Instead, Mr. Obama exited the plane from a seldom-used staircase that comes out from underneath the belly of the aircraft.
‘They will not even give him stairs, proper stairs, to escape of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If which were me personally, I would personally state, ‘You know very well what, folks, I respect you a lot but close the doors, let’s get free from here.”
Trump made the remarks at an event in Ohio, and his Democratic challenger was not a long way away. 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 polling average still has the former secretary of state ahead by 3.3 points in what’s turning out to be one of many most dramatic presidential campaigns of the last 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the latest Black?’ Ad
A Paddy that is new Power ad campaign in Ireland could 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 effort 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 exactly about what is on the exterior for the upcoming US presidential election. (Image: Paddy Power)
Providing odds on one of many prospects running for president of the United States, Paddy Power’s new billboard advertising bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the new that is black’ a play on the favorite Netflix TV series about women 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. A bit over the past few months, he’s been known to go full-throttle tangerine in the past while the Republican candidate appears to have softened his fake tan stance.
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 the us.
‘With the gridiron attracting hordes of American visitors we thought we’d give them a little understanding of 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 very much in the race and there is a practical possibility that orange may be the new black colored.’
To be honest, we never did we think we might live to see the orange that is first regarding the united states of america, but what itâ€™s likely that 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 favorite that is 4/11. Paddy Power has said that should Trump win the election, its customers are set to create around €1 million ($1.12 million), a figure that’s anticipated to double in the coming months.
But while bookmakers are notoriously good at predicting the outcome of governmental events, we’re perhaps not sure it applies here. Within the United States, gambling on politics is unlawful. And the majority that is vast of Power’s clients are Uk or Irish citizens, and therefore will not be voting.
Bearing that in head, Paddy Power’s chances do not provide a cross-section regarding the views of US voters in just about any way, shape, or kind. It is simply that more profit the UK 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 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 set to ban smoking that is indoor all places of business. At the very least, that’s what one new city poll shows 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 percent of Mesquite residents support an area ordinance to completely ban smoking inside. That would replace the law that is current 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 having a poll that is new residents want clean air inside all business establishments. (Image: Danny Drake/Press of Atlantic City)
Nevada passed the Indoor that is clean Air in 2006, and made 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 alter that.
‘Everyone deserves to breathe clean indoor air. No one must have to lose their health for a paycheck,’ the coalition working to amend the populous town law states.
With help 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 the voters to decide. It’s up to the city 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 town that is historic heavily on tourism, using its casinos and pioneering history to lure visitors coming to and from Sin City in the I-15 interstate.
It remains unclear whether a casino smoking ban would bring new bettors to Mesquite, or turn customers that are away faithful. But it is likely that local residents, whom also gamble, in addition to casino workers, are more enthusiastic about unique health that is long-term days.
In Macau, a crusade that is similar ban smoking was not very effective. Though smoking is confined to designated lounges, workers complained patrons frequently fail to adhere to the mandate and continue smoking on the general casino floor. In China (and Asia generally), the West’s campaign that links cigarettes and cancer doesn’t seem to have taken off much, if at all, and numerous citizens are still heavy cigarette smokers for the reason that nation.
Final May, two lobbying organizations performing 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 rooms. But with one in two Chinese citizens avove the age of 15 reportedly a smoker that is regular the casino companies didn’t budge.
No Hurray for https://myfreepokies.com/dolphin-treasure/ 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 major poker rooms in vegas, though smoking on primary casino floors stays predominant.
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 profits to fall, according to Harrah’s New Orleans. The city’s only land-based casino said slot income fell 17 percent into the year after the ordinance that is new.
Proponents of clean interior air says Harrah’s is utilising the smoking cigarettes ban as a justification, and point to riverboat casinos in other parts of Louisiana experiencing comparable income decreases outside of the cigarette smoking ban.
Perhaps Pennsylvania gets the smoking predicament solved.
The Keystone State’s 12 casinos are allowed to designate as much as 50 percent of these floor for smoker-friendly gaming. Dining areas are 100 smoke-free that is percent since they are in Las Vegas and many metropolitan areas across America these days.