Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-9263"></span>nsis 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 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 might be DraftKing’s second major round of funding in just over a year. In July 2015, the business surely could raise a $300 million war chest to simply help finance its international aspirations, $150 million of which arrived from Fox Sports for an play dolphin treasure slots online 11 percent stake in the business.

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

Market Cap Unknown

The very good news, now 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 business was valued at around $2 billion, and while its valuation had not been disclosed during this round of investment, Eilers & Krejcik Gaming has estimated the organization’s worth to be around 1 / 2 of that figure today.

The analyst also stated that, in light associated with the new investment, a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the businesses were engaged in negotiations regarding a merger, which personal investors in both companies had been pushing for a while.

Consolidation could have made sense, largely because associated with amount of money both spend on trying to out-market one another and will be offering a very service that is similar. Then there will be the costs to be saved from both companies’ various skirmishes that are legal the US. Add the increase in licensing fees and local fees as DFS becomes regulated for a gradual state-by-state basis, 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 company,’ as well as its ‘deep expertise in sports, technology, and policy.’

Revolution’s Steve Murray, who will join the DraftKings board of directors included in the deal, stated that their company has the ‘expertise to greatly help entrepreneurs execute on the a few ideas, especially where sports and policy intersect.’

If the merger is actually off the table, the likelihood is that FanDuel could initiate a brand new round of funding of a unique in order to stay competitive.

Rodrigo Duterte Backtracks US Comments, Country Continues Prohibited Gambling Crackdown

Philippines President Rodrigo Duterte is walking back responses 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.

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 national priorities and perceptions,’ the more calculated and civil statement read. ‘ Although the immediate cause ended up being my strong comments to specific press questions that elicited concern and distress, we also regret it came across being a personal attack in 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 satisfy with the new Filipino president to confront the latter’s handling of unlawful drug dealers and extrajudicial killings. Duterte has given law enforcement the right to destroy suspected drug operators and break up cartels, and nearly 2,000 killings have taken spot considering that 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 country’s gambling arm PAGCOR not 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 actually provided multimillions in tax revenue to the us government. But also for PhilWeb Corp as well as its owner Roberto Ongpin, the celebration appears to be 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 gaming tax revenue at risk, Duterte’s strong moral convictions may actually have, um, disappeared.

‘Pay the taxes that are proper . . gamble until you die. I really do maybe not really care,’ the Filipino president said concerning 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 with 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 rings through the town within 8 weeks.

Regional 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 director for the Philippine National Police, states his force will go after illegal gambling once the war that is present drugs concludes in 6 months.

No Love from Asia

Duterte was not the only 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 president that is american, the typical red carpet staircase almost exclusively utilized to welcome worldwide leaders was mysteriously absent.

In fact, Asia did not 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 that were me, I would say, ‘You know what, folks, I respect you a complete lot but close the doors, let us 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 brand new CNN poll shows Trump leading Clinton by two percent, but the Real Clear Politics polling average still 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 this new Black?’ advertising

A brand new Paddy Power billboard ad campaign in Ireland might 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 probably the most uncomfortably smirk-stifling yet.

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

Offering odds on one of the candidates 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 latest that is black’ a play on the most popular 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 competition and skin color, while lampooning the famously orange-faced Trump. Although the Republican prospect seemingly have softened his fake tan stance a bit in the last few months, he’s been proven to get full-throttle tangerine into the past.

Tangerine Dream

Paddy energy installed the billboard in Dublin throughout 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 america.

‘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 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 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 might live to see the first orange president of the usa, but 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 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 help make around €1 million ($1.12 million), a figure that’s expected to increase 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. Into the US, betting on politics is unlawful. And the vast most of Paddy energy’s customers are British or Irish citizens, and thus will never be voting.

Bearing that in head, Paddy Power’s odds do not offer a cross-section of the viewpoints of American voters in almost any real way, shape, or kind. It is simply that more money in the united kingdom has been placed on Clinton. Along with the polls leads to the usa tightening between your 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 set to ban smoking that is indoor all places of business. At the very least, that’s what one city that is new indicates in the small city of under 18,000 residents that sits about 80 miles outside of Las Vegas.

Based on a poll conducted by Public Opinion Strategies, A virginia-based research firm, 62 per cent of Mesquite residents support an area ordinance to completely ban smoking indoors. That will replace the law that is current continues to permit smoking cigarettes at gambling enterprises, 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 Indoor that is clean Air in 2006, making smoking cigarettes inside workplaces and public structures illegal.

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

‘Everyone deserves to breathe clean indoor air. Nobody should have to sacrifice their health for a paycheck,’ the coalition trying to amend the populous town law states.

With support seemingly current, the Mesquite City Council could introduce an ordinance to outlaw all smoking that is indoor places of business and implement the latest statute in as little as 60 days.

‘It’s not up to the voters to decide. It is up to the populous city leaders,’ Christine Picior, a coalition user, told The Spectrum.

Smoke-Free Impact

The small city of Mesquite sits northeast of Las vegas, nevada on the Nevada and Arizona edge. The town that is historic heavily on tourism, using its gambling enterprises and pioneering history to lure visitors visiting and from Sin City 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, whom also gamble, along with casino workers, tend to be more thinking about unique long-term health these days.

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

Final May, two lobbying organizations functioning on behalf of casino employees called regarding the resorts to enact an one-day citywide indoor smoking cigarettes ban on floors, smoking lounges, and VIP rooms. However with one in two 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 very first city to enforce such policies. Smoking is banned in all the poker that is major in Las Vegas, though smoking on primary casino floors continues to be common.

Down south in New Orleans, however, city officials extinguished all butts in casinos as of 2015 april. Exiling cigarette smokers to outdoor ‘smoking lounges,’ aka metal benches, caused profits to fall, in accordance with Harrah’s brand New Orleans. The city’s only land-based casino said slot income dropped 17 percent into the year following the ordinance that is new.

Proponents of clean interior air says Harrah’s is utilising the smoking ban as an excuse, and point to riverboat casinos in other parts of Louisiana experiencing revenue that is similar beyond your smoking cigarettes ban.

Maybe Pennsylvania has the smoking cigarettes predicament solved.

The Keystone State’s 12 casinos are allowed to designate as much as 50 percent of their floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, because they are in Las vegas, nevada and many towns and cities across America these days.

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