Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-4592"></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 into the ongoing company through his investment firm Revolution development.

Ted Leonsis, owner regarding 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 surely could raise a $300 million war chest to aid finance its international ambitions, $150 million of which came from Fox Sports for the 11 percent stake in the company.

The round that is last before DraftKings and fellow market leader FanDuel were beset by legal difficulties, however. Facing a threat of billions of dollars in fines from nyc Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as appropriate costs mounted.

Market Cap Unknown

The great news, now that DFS is back in New York, is the fact that industry is once again considered to be investable. And that’s despite DraftKings market cap being damaged by the different challenges that are legal has faced. In July 2015, the business was respected at around $2 billion, and while its valuation was not disclosed during this round of investment, Eilers & Krejcik Gaming has approximated the company’s worth to be around 50 % of that figure today.

The analyst additionally stated that, in light regarding 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 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 associated with the sum of money both devote to trying to out-market one another while offering a really similar service. Then there would be the expenses to be saved from both companies’ different legal skirmishes in the US. Add the enhance in licensing charges and local fees as DFS becomes regulated for a gradual state-by-state basis, while 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 business,’ also its ‘deep expertise in sports, technology, and policy.’

Revolution’s Steve Murray, whom will join the DraftKings board of directors included in the deal, stated that his company has the ‘expertise to simply help entrepreneurs execute on the some ideas, especially where sports and policy intersect.’

If the merger is actually off the dining table, the likelihood is that FanDuel could initiate a brand 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 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 nationwide priorities and perceptions,’ the more calculated and civil statement read. ‘ Although the cause that is immediate my strong comments to particular press questions that elicited concern and distress, we additionally regret it came across as being a individual attack regarding the US president.’

Obama’s group 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 aided by the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has given law enforcement the straight to kill suspected drug operators and split up cartels, and nearly 2,000 killings have taken spot since the took that is 71-year-old 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 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 entire country have actually provided multimillions in tax revenue to the us government. But also for PhilWeb Corp as well as its owner Roberto Ongpin, the celebration seems to be over. PhilWeb had claimed a license that is exclusive operate the cafes that offer eGames, ahead of the Duterte dictum.

But with so millions that are many potentially lost gaming tax income at stake, Duterte’s strong moral convictions may actually have, um, disappeared.

‘Pay the taxes which can be proper . . gamble until you die. I do maybe not really care,’ the Filipino president stated concerning the online gaming reinstatement.

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 associated with running unlawful lotteries and gambling.

On September 6, the pinnacle police chief in Cagayan de Oro City announced that his agency could be increasing its efforts to restrict non-regulated gambling. The 10th-most populated city in the Philippines, the Cagayan de Oro chief stated he will resign if his department cannot eliminate illegal gambling rings through the town within 8 weeks.

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 of this Philippine National Police, claims his force will get after illegal gambling once the war that is present medications concludes in six months.

No Love from China

Duterte wasn’t the only 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 president that is american, the conventional red carpet staircase very nearly solely utilized to welcome worldwide leaders was mysteriously missing.

In fact, China didn’t provide a staircase even 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 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 very well what, folks, I respect you a lot but close the doors, let us escape here.”

Trump made the remarks at an event in Ohio, and his challenger that is democratic was 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 average that is polling has the former secretary of state ahead by 3.3 points in exactly what’s turning out to be among the most dramatic presidential campaigns of the past 100 years.

Paddy energy Irish Billboard Pokes Fun At Trump with ‘Is Orange the brand new Black?’ Ad

A new Paddy Power billboard ad campaign in Ireland may 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 could be the New Black? Irish bookmaker Paddy Power is accustomed getting under people’s skin, but this time around, it’s exactly about what’s on the outside for the upcoming US election that is presidential. (Image: Paddy Energy)

Providing odds on one of the applicants running for president of the United States, Paddy Power’s new billboard advertising bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is this new black?,’ an use 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. Even though the Republican prospect appears to have softened his fake tan stance a little in the last month or two, he’s been known to go full-throttle tangerine within the past.

Tangerine Dream

Paddy Power 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 provide them with an insight that is little how their Republican candidate is faring in the betting,’ said a spokesman for Paddy Power. ‘Despite a few of Trump’s comments being https://myfreepokies.com/dolphin-treasure/ more ill-advised than his hair, the billionaire is still greatly in the battle and there exists a chance that is realistic orange will be the new black.’

To be honest, we never did we think we’d live to see the first orange president regarding the united states of america, but just what it’s likely that 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 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 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 proficient at predicting the outcome of governmental events, we’re maybe not sure it applies here. Into the US, wagering on politics is unlawful. And the vast majority of Paddy energy’s customers are Uk or Irish citizens, and so will not be voting.

Bearing that in brain, Paddy Power’s chances usually do not provide a cross-section of the viewpoints of US voters in just about any method, shape, or kind. It’s simply that more money in the UK has been placed on Clinton. Along with the polls results in 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 ready to ban smoking that is indoor all places of business. At the very least, that’s what one city that is new shows in the small city of less than 18,000 residents that sits about 80 miles outside of Las Vegas.

Based on a poll conducted by Public Opinion Strategies, a research that is virginia-based, 62 per cent of Mesquite residents support a local ordinance to completely ban smoking inside. That could change the current legislation that continues to permit smoking cigarettes at casinos, nightclubs, and some bars.

Smoking on gambling floors could quickly be prohibited inside Mesquite, Nevada casinos, following a poll that is new 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 structures illegal.

But the air that is clean included a carve-out for the state’s massive casino industry. And also the Mesquite Citizens for Clean Indoor Air group now wants to improve that.

‘Everyone deserves to breathe clean air that is indoor. No body must have to sacrifice their health for a paycheck,’ the coalition working to amend the city law states.

With help seemingly present, 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 choose. It’s 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 nevada on the Nevada and Arizona edge. The town that is historic heavily on tourism, having its casinos and pioneering history to lure visitors coming to and from las vegas on the I-15 interstate.

It remains unclear whether a casino smoking ban would bring brand new bettors to Mesquite, or turn customers that are away faithful. But it’s likely that local residents, whom also gamble, in addition to casino workers, are far more thinking about their own long-lasting 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 patrons frequently don’t conform 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 many citizens are still heavy cigarette smokers in that country.

Last May, two lobbying organizations functioning on behalf of casino employees called regarding 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 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 gambling enterprises, it mightn’t be the city that is first enforce such policies. Smoking is banned in all of the major poker spaces in Las vegas, nevada, though smoking on main casino floors stays predominant.

Down south in New Orleans, however, city officials extinguished all butts in gambling enterprises as of April 2015. Exiling smokers to outdoor ‘smoking lounges,’ aka metal benches, caused revenues to fall, based on Harrah’s New Orleans. The city’s only land-based casino stated slot revenue dropped 17 percent into the 12 months following the ordinance that is new.

Proponents of clean indoor air says Harrah’s is using the smoking ban as a reason, and point to riverboat casinos in other areas of Louisiana experiencing revenue that is similar outside of the cigarette smoking ban.

Possibly 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 percent smoke-free, as they are in Las Vegas and many metropolitan areas across America today.

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