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Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-10114"></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 ongoing business 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.

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

The last round was before DraftKings and other market leader FanDuel were beset by legal difficulties, but. Facing a threat of billions of bucks in fines from ny Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as legal costs mounted.

Market Cap Unknown

The news that is good given that DFS has returned 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 various challenges that are legal has faced. In July 2015, the business was valued at around $2 billion, and while its valuation had not been disclosed during this round of investment, Eilers & Krejcik Gaming has projected the organization’s worth to be around half of that figure today.

The analyst additionally said that, in light for 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 businesses 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 of the sum of money both devote to wanting to out-market one another while offering a very similar solution. Then there would be the expenses become saved from both businesses’ different legal skirmishes in the United States. Add the enhance in licensing charges and local taxes 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 a statement that is official DraftKings CEO Jason Robins praised Revolution Growth’s ‘entrepreneurial outlook and spirit of innovation’ that ‘meshes perfectly with the tradition of our company,’ along with its ‘deep expertise in recreations, technology, and policy.’

Revolution’s Steve Murray, who will join the DraftKings board of directors within the deal, stated that their company has the ‘expertise to greatly help entrepreneurs execute on the 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 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 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 had been 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 distinctions arising out of nationwide priorities and perceptions,’ the more calculated and civil statement read. ‘ Even though the immediate cause had been my strong comments to particular press questions that elicited concern and distress, we additionally regret it came across as a individual attack on the US president.’

Obama’s team canceled the meeting upon hearing Duterte’s initial remarks, however now say they are rearranging the engagement.

Obama has indicated he wants to meet up with with the Filipino that is new president confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has provided law enforcement the directly to kill suspected drug operators and split up cartels, and nearly 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 stance that is previous internet gambling. After forcing the country’s gambling arm PAGCOR to not renew the operating license for PhilWeb, he announced in late August that he was willing to allow online gambling, if taxes were paid of course the gaming parlors that home them are situated far sufficient away from schools and churches.

Some 299 internet gaming cafes through the entire national country have actually provided multimillions in tax revenue to the federal government. But also for PhilWeb Corp and its owner Roberto Ongpin, the ongoing celebration appears to be over. PhilWeb had claimed a license that is exclusive operate the cafes offering eGames, just before the Duterte dictum.

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

‘Pay the taxes being correct . . gamble until you die. I really do perhaps not really care,’ the Filipino president said 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 from the Philippines. But close behind the narcotics trade are those tangled up in running lotteries that are illegal gambling.

On September 6, the pinnacle 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 city within 8 weeks.

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

Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager regarding the Philippine National Police, states his force will go after illegal gambling once the present war on medications concludes in 6 months.

No Love from Asia

Duterte was not the just 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 American president arrived, the normal red carpet staircase very nearly exclusively used to welcome worldwide leaders was mysteriously absent.

In fact, China don’t provide a staircase even lift to Air Force One. Instead, Mr. Obama exited the plane from a seldom-used staircase that happens from underneath the belly of the aircraft.

‘They will not 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 out of here.”

Trump made the remarks at an event in Ohio, and his challenger that is democratic was far. 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 average that is polling has the former secretary of state ahead by 3.3 points in what’s growing to be one of many most dramatic presidential campaigns of days gone by 100 years.

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

A Paddy that is new Power ad campaign in Ireland could be raising some eyebrows, but there’s nothing new in that. The Irish bookmaker famously goes where no free dolphin treasure slot game other company would dare, but its latest work is perhaps the 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 is exactly about what is on the outside for the upcoming US election that is presidential. (Image: Paddy Power)

Providing odds on among the prospects running for president of the United States, Paddy Power’s brand new billboard advertising bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the new black?,’ a play on the favorite Netflix TV series about women in a minimum-security federal prison who wear orange jumpsuits.

The bookmaker manages to mock on our squeamishness at referencing race and skin 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 throughout 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 give them 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 more ill-advised than his hair, the billionaire is still truly in the battle and there is a chance that is realistic orange could be the new black.’

To be honest, we never ever did we think we’d live to see the orange that is first associated with the United States, 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 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 to help make around €1 million ($1.12 million), a figure that’s anticipated to increase in the months that are coming.

But while bookmakers are notoriously good at predicting the outcome of governmental events, we’re maybe not sure it applies here. In the United States, betting on politics is unlawful. And the majority that is vast of energy’s clients are British or Irish citizens, and thus will not be voting.

Bearing that in brain, Paddy Power’s odds usually do not offer a cross-section associated with views of American voters in just about any way, shape, or kind. It is simply that more profit the united kingdom has been placed on Clinton. And with the polls results in the united states tightening between your 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 ready to ban smoking that is indoor all places of business. At the least, that’s what one new town poll suggests in the small town 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 inside. That would replace the law that is current continues to permit cigarette smoking at casinos, nightclubs, and some bars.

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

Nevada passed the Clean Indoor Air Act in 2006, and made smoking inside workplaces and public buildings illegal.

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

‘Everyone deserves to breathe clean interior air. No one needs to lose their health for a paycheck,’ the coalition working 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 new statute in as little as 60 days.

‘It’s not up to your voters to determine. It is up to the populous 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, using its casinos and pioneering history to lure visitors coming to and from Sin City regarding the I-15 interstate.

It stays unclear whether a casino smoking ban would bring brand new bettors to Mesquite, or turn customers that are away faithful. But it is likely that local residents, who also gamble, along with casino workers, tend to be more enthusiastic about their very own health that is long-term days.

In Macau, a crusade that is similar ban smoking wasn’t very successful. Though smoking is confined to designated lounges, workers complained clients frequently don’t comply with the mandate and continue smoking on the general casino floor. In China (and Asia generally), the West’s campaign that links cigarettes and cancer does not seem to have taken off much, if at all, and many citizens are still heavy cigarette smokers in that nation.

Final May, two lobbying organizations acting on behalf of casino employees called on the resorts to enact a citywide that is one-day smoking cigarettes ban on floors, smoking lounges, and VIP rooms. But with one in two Chinese citizens older than 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 gambling enterprises, it wouldn’t be the city that is first enforce such policies. Smoking is banned in all the major poker spaces in nevada, though smoking on main casino floors stays commonplace.

Down south in New Orleans, however, city officials extinguished all butts in casinos as of April 2015. Exiling cigarette smokers to outdoor ‘smoking lounges,’ aka steel benches, caused revenues to fall, in accordance with Harrah’s New Orleans. The city’s only land-based casino said slot revenue fell 17 percent in the year after the ordinance that is new.

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

Perhaps Pennsylvania has the smoking predicament solved.

The Keystone State’s 12 casinos are permitted to designate up to 50 percent of these floor for smoker-friendly gaming. Dining areas are 100 smoke-free that is percent as they are in Las Vegas and many cities across America these days.