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Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-10090"></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 Growth.

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

This really is DraftKing’s second round that is major of in only over a year. In July 2015, the company surely could raise a $300 million war chest to aid finance its international aspirations, $150 million of which arrived from Fox Sports for the 11 percent stake in the organization.

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

Market Cap Unknown

The news that is good given that DFS is back in New York, is that the 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 July 2015, the organization was respected at around $2 billion, and while its valuation wasn’t disclosed during this round of investment, Eilers & Krejcik Gaming has projected the company’s worth to be around 1 / 2 of that figure today.

The analyst additionally said that, in light of 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 private investors in both companies had been pushing for quite a while.

Consolidation would have made sense, largely because for the amount of money both spend on trying to out-market one another while offering a very service that is similar. Then there will be the expenses to be conserved from both organizations’ 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, 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 culture of our company,’ as well as its ‘deep expertise in recreations, technology, and policy.’

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

If the merger is actually off the dining table, it’s likely that FanDuel could start a new round of funding of unique in order to remain 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. Simply hours after Duterte said he doesn’t 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.

Though it absolutely was apparently Casual Monday for Rodrigo Duterte, the Philippine president still received the red carpeting treatment when he arrived this week in China, a courtesy not afforded to President Obama. (Image: Made Nagi/European Pressphoto Agency)

‘We look forward to ironing out our differences arising away from national priorities and perceptions,’ the more calculated and statement that is civil. ‘ While the cause that is immediate my strong comments to specific press questions that elicited concern and distress, we additionally regret it came across being a personal attack in the United States president.’

Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, but now say 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 given law enforcement the right to destroy 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 not to renew the operating 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 us government. However for PhilWeb Corp and its owner Roberto Ongpin, the celebration is apparently over. PhilWeb had claimed an exclusive license to operate the cafes that offer eGames, prior to the Duterte dictum.

However with so millions that are many potentially lost video gaming tax income on the line, Duterte’s strong moral convictions may actually have, um, disappeared.

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

Gaming Operators Enemy #2

Duterte has made no secret about his wishes to eradicate drug dealers from the Philippines. But close behind the narcotics trade are those involved with running lotteries that are illegal gambling.

On September 6, the head 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 bands from the town within two months.

Local officials say underground gaming is hampering product sales of the town’s regulated lotto.

Duterte’s lead law enforcement official Ronald Dela Rosa, chief director of this Philippine National Police, claims his force will get after illegal gambling once the current war on medications concludes in six months.

No Love from China

Duterte was not 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 when the American president arrived, the conventional red carpet staircase very nearly solely utilized to welcome worldwide leaders was mysteriously absent.

In reality, Asia don’t provide a staircase even lift to Air Force One. Instead, Mr. Obama exited the plane from a staircase that is seldom-used 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 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 Democratic challenger was not 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 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 growing to be one of the most dramatic presidential campaigns of the past 100 years.

Paddy Power 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 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 accustomed getting under people’s skin, but this time, it is all about what is on the outside for the upcoming US presidential election. (Image: Paddy Power)

Offering odds on one of the prospects running for president of america, Paddy Power’s new billboard ad bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the latest black?,’ a play on the favorite Netflix TV series about ladies 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.

Tangerine Dream

Paddy energy installed the billboard in Dublin on the weekend, in preparation for the forthcoming exhibition football game between Boston College and Georgia Tech, hoping to draw the interest of visiting People in america.

‘With the gridiron attracting hordes of US 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 truly in the race and there exists 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 orange that is first regarding the usa, but exactly 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 the White House, while Hillary Clinton remains the 4/11 favorite. Paddy energy has said that should Trump win the election, its customers are set to create 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 governmental events, we’re perhaps not sure it applies here. In the US, betting on politics is unlawful. And the vast majority of Paddy energy’s clients are British or Irish citizens, and so will never be voting.

Bearing that in head, Paddy Power’s odds don’t provide a cross-section associated with the views of American voters in virtually any real means, shape, or type. It’s simply that more profit the united kingdom has been placed on Clinton. Along with the polls results in the united states 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 smoking that is indoor all places of business. At the least, that’s what one city that is new shows in the small town of less than 18,000 residents that sits about 80 miles outside of Las Vegas.

In accordance with a poll conducted by Public Opinion Strategies, A virginia-based research firm, 62 per cent of Mesquite residents support a nearby ordinance to completely ban smoking indoors. That could replace the law that is current 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 new poll shows 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 buildings illegal.

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

‘Everyone deserves to breathe clean indoor air. No one should have to lose their health for a paycheck,’ the coalition working to amend the populous city legislation states.

With support seemingly current, 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 determine. It’s 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 Las Vegas on the Nevada and Arizona edge. The town that is historic heavily on tourism, using its casinos and pioneering history to lure visitors coming to and from las vegas in 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, whom also gamble, in addition to casino workers, tend to be more interested in unique long-lasting health these days.

In Macau, a similar crusade to ban smoking was not very effective. Though smoking is confined to designated lounges, workers complained clients usually neglect to adhere to the mandate and continue smoking on the general 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 citizens that are many still heavy cigarette smokers in that nation.

Final May, two lobbying organizations performing 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 spaces. But with one in 2 Chinese citizens avove 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 couldn’t be the city that is first enforce such policies. Smoking is banned in most of the major poker rooms 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 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 revenue dropped 17 percent in the 12 months following the ordinance that is new.

Proponents of clean indoor air says Harrah’s is utilizing the cigarette smoking ban as an excuse, and point to riverboat casinos in other parts of Louisiana experiencing comparable revenue declines outside the smoking ban.

Perhaps Pennsylvania gets the smoking cigarettes 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 percent smoke-free, because they are in nevada and most cities across America today.