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 in 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 will be DraftKing’s second major round of capital in just over a year. In July 2015, the organization was able to raise a $300 million war chest to aid finance its international aspirations, $150 million of which arrived from Fox Sports for an 11 percent stake in the company.
The last round ended up being before DraftKings and fellow market leader FanDuel were beset by legal difficulties, nevertheless. Facing a threat of billions of dollars in fines from ny Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as appropriate costs mounted.
Market Cap Unknown
The very good news, given that DFS has returned in New York, is that the industry is once again considered to be investable. And that’s despite DraftKings market cap being damaged by the many appropriate challenges it has faced. In July 2015, the company was respected at around $2 billion, and while its valuation wasn’t disclosed during this round of investment, Eilers & Krejcik Gaming has projected the organization’s worth to be around 50 % of that figure today.
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 investors that are private both companies had been pushing for quite a while.
Consolidation would have made sense, largely because regarding the sum of money both spend on wanting to out-market one another and will be offering a very similar service. Then there would be the costs to be saved from both businesses’ different skirmishes that are legal the US. Add the enhance in licensing costs and local fees as DFS becomes regulated for a state-by-state that is gradual, as well as 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 culture of our business,’ as well as 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 https://myfreepokies.com/dolphin-treasure/ company has the ‘expertise to help entrepreneurs execute on their some ideas, especially where sports and policy intersect.’
If the merger is in fact off the table, it is likely that FanDuel could initiate a new round of funding of a unique in order to remain competitive.
Rodrigo Duterte Backtracks US Comments, Country Continues Prohibited Gambling Crackdown
Philippines President Rodrigo Duterte is walking back reviews 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 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 away from national priorities and perceptions,’ the more calculated and statement that is civil. ‘ While the immediate cause ended up being my strong comments to specific press questions that elicited concern and distress, we also regret it came across as a individual attack on the United States president.’
Obama’s team canceled the meeting upon hearing Duterte’s initial remarks, however now state they are rearranging the engagement.
Obama has indicated he wants to meet up using the Filipino that is new president confront the latter’s handling of illegal drug dealers and extrajudicial killings. Duterte has provided law enforcement the right to kill suspected drug operators and split up cartels, and almost 2,000 killings have taken spot considering that the 71-year-old took office on June 30, 2016.
Duterte recently did an about-face on a previous stance on internet gambling. After forcing the country’s gambling arm PAGCOR to not 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 country have provided multimillions in tax revenue to the government. However for PhilWeb Corp and its owner Roberto Ongpin, the party is apparently over. PhilWeb had claimed an exclusive license to operate the cafes that offer eGames, ahead of the Duterte dictum.
However with so numerous millions in potentially lost gaming tax income at risk, Duterte’s strong moral convictions appear to have, um, disappeared.
‘Pay the taxes which can be proper . . gamble until you die. I really do maybe not really care,’ the Filipino president said in regards to the online gaming reinstatement.
Gaming Operators Enemy #2
Duterte has made no secret about his wishes to get rid of drug dealers through the Philippines. But close behind the narcotics trade are those involved in running illegal 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 populated city in the Philippines, the Cagayan de Oro chief said he will resign if his department cannot eliminate illegal gambling bands from the town within two months.
Local officials say underground gaming is hampering product sales of town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager associated with the Philippine National Police, claims his force will get after illegal gambling once the war that is present drugs concludes in six months.
No Love from China
Duterte was not the just 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 when the American president arrived, the normal red carpet staircase very nearly solely utilized to welcome international leaders was mysteriously missing.
In reality, Asia didn’t even provide a staircase 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 escape of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If which were me, I would personally state, ‘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, 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 the last 100 years.
Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the newest Black?’ advertising
A Paddy that is new Power ad campaign in Ireland could be raising some eyebrows, but there is nothing new in that. The Irish bookmaker famously goes where no other company would dare, but its latest work is perhaps the 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 around, it’s all about what is on the outside for the upcoming US election that is presidential. (Image: Paddy Energy)
Offering odds on one of the prospects running for president of the usa, Paddy Power’s new billboard advertising bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the brand new black?,’ an use the popular Netflix TV series about women in a minimum-security federal prison 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. Whilst the Republican prospect seemingly have softened his fake tan stance a bit in the last few months, he’s been known to go full-throttle tangerine within the past.
Tangerine Dream
Paddy Power installed the billboard in Dublin throughout the weekend, in preparation for the forthcoming event 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 provide them with 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 greatly in the competition and there is a chance that is realistic orange could be the new black colored.’
To be honest, we never did we think we would live to see the first orange president associated with the usa, but just 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 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 make around €1 million ($1.12 million), a figure that’s anticipated to double in the months that are coming.
But while bookmakers are notoriously proficient at predicting the outcome of governmental events, we’re perhaps not sure it applies here. Into the US, betting on politics is unlawful. And the majority that is vast of energy’s clients are British or Irish citizens, and thus will never be voting.
Bearing that in brain, Paddy Power’s odds don’t offer a cross-section of the viewpoints of American voters in any way, shape, or kind. It is simply that more profit the united kingdom has been placed on Clinton. And with the polls leads to the US tightening between the two applicants, 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 prepared to ban smoking that is indoor all places of company. At least, that’s what one city that is new shows in the small city of fewer 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 firm, 62 % of Mesquite residents support a nearby ordinance to completely ban smoking indoors. That will replace the law that is current continues to permit cigarette smoking at casinos, nightclubs, and some bars.
Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, following 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 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 change that.
‘Everyone deserves to breathe clean interior air. No body must have to sacrifice their health for a paycheck,’ the coalition trying to amend the populous city legislation states.
With support seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all smoking that is indoor places of company and implement the new statute in as little as 60 days.
‘It’s not up to your voters to choose. It’s as much as the city leaders,’ Christine Picior, a coalition member, told The Spectrum.
Smoke-Free Impact
The small town of Mesquite sits northeast of Las Vegas on the Nevada and Arizona edge. The historic town relies heavily on tourism, which consists of 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 customers that are away faithful. But it is likely that local residents, who also gamble, as well as casino workers, are more enthusiastic about their own long-lasting health these days.
In Macau, a similar crusade to ban smoking wasn’t very successful. Though smoking is confined to designated lounges, workers complained clients frequently neglect to adhere to the mandate and continue smoking on the basic casino floor. In China (and Asia generally), the western’s campaign that links cigarettes and cancer doesn’t appear to have taken down much, if at all, and numerous citizens are still heavy smokers in 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. However with one in 2 Chinese citizens over the age of 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 city that is first enforce such policies. Smoking is banned in all the major poker spaces in Las Vegas, though smoking on main casino floors continues to be common.
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 steel benches, caused profits to fall, according to Harrah’s brand New Orleans. The city’s only land-based casino stated slot revenue dropped 17 percent in the year after the new ordinance.
Proponents of clean interior atmosphere says Harrah’s is using the cigarette smoking ban as an excuse, and point to riverboat casinos in the rest of Louisiana experiencing revenue that is similar outside the smoking cigarettes ban.
Possibly Pennsylvania has got the smoking cigarettes predicament solved.
The Keystone State’s 12 casinos are allowed to designate up to 50 percent of the floor for smoker-friendly gaming. Dining areas are 100 smoke-free that is percent as they are in Las vegas, nevada and most towns across America today.
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