Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-9528"></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 in the business through his investment firm Revolution development.

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

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

The final round ended up being before DraftKings and other 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 had been temporarily curtailed, as legal costs mounted.

Market Cap Unknown

The news that is good given 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 2015, the company was valued at around $2 billion, and while its valuation was not disclosed during this round of investment, Eilers & Krejcik Gaming has estimated the company’s worth to be around half of that figure today july.

The analyst additionally said 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 firms were engaged in negotiations regarding a merger, which personal investors in both companies had been pushing for a while.

Consolidation could have made feeling, largely because regarding the amount of money both invest in wanting to out-market one another while offering a tremendously similar solution. Then there are the costs to be saved from both companies’ various skirmishes that are legal the US. Add the enhance in licensing charges and local taxes as DFS becomes regulated on a state-by-state that is gradual, plus 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 company,’ along with 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, stated that his company has the ‘expertise to aid entrepreneurs execute on the tips, especially where sports and policy intersect.’

If the merger is in fact off the table, chances are that FanDuel could start a new round of funding of unique in order to stay competitive.

Rodrigo Duterte Backtracks US Comments, Country Continues Illegal 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 was apparently Casual Monday for Rodrigo Duterte, the Philippine president still received the red carpet treatment whenever he arrived this week in China, a courtesy perhaps not afforded to President Obama. (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 civil statement read. ‘ Although the cause that is immediate my strong comments to particular press questions that elicited concern and distress, we also regret it came across being a personal attack on the United States president.’

Obama’s group 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 with utilizing the Filipino that is new president confront the latter’s handling of illegal drug dealers and extrajudicial killings. Duterte has offered law enforcement the straight to destroy suspected drug operators and break up cartels, and nearly 2,000 killings have taken destination since the took that is 71-year-old on June 30, 2016.

Duterte recently did an about-face for a stance that is previous internet gambling. After forcing the country’s gambling arm PAGCOR to not renew the running license for PhilWeb, he announced in late August that he had been willing to allow on the web gambling, if taxes were paid of course the gaming parlors that house them are situated far sufficient away from schools and churches.

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

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

‘Pay the taxes that are correct . . gamble until you die. I do maybe not really care,’ the Filipino president stated concerning 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 taking part in running lotteries that are illegal gambling.

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

Neighborhood officials say underground video gaming is hampering product sales of town’s regulated lotto.

Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager regarding the Philippine National Police, says his force will go after illegal gambling once the present war on drugs concludes in 6 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 China now for the G20 Summit. But whenever the president that is american, the normal red carpet staircase almost solely utilized to welcome worldwide leaders was mysteriously missing.

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 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. 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 polling average still has the former secretary of state ahead by 3.3 points in what’s turning out to be among the most dramatic presidential campaigns of the past 100 years.

Paddy Power Irish Billboard Pokes Fun At Trump with ‘Is Orange this new Black?’ advertising

A brand new Paddy Power billboard ad campaign in Ireland could be raising some eyebrows, but there is nothing new in that. The Irish bookmaker famously goes where no other business 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 used to getting under individuals’s skin, but this time around, it’s exactly 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 america, Paddy Power’s new billboard ad bears pictures of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the newest black?,’ a play on 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. Although the Republican prospect seems to have softened his fake tan stance a little in the last few months, he’s been proven to go full-throttle tangerine into the past.

Tangerine Dream

Paddy Power installed the billboard in Dublin over the weekend, in preparation for the forthcoming event football game between Boston College and Georgia Tech, hoping to draw the interest of visiting Us citizens.

‘With the gridiron attracting hordes of US 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 some of Trump’s comments being more ill-advised than his hair, the billionaire is still truly in the battle and there exists a chance that is realistic orange will be the new black colored.’

To be honest, we never ever did we think we might live to see the first orange president associated with 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 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 produce around €1 million ($1.12 million), a figure that’s anticipated to increase 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 United States, wagering on politics is unlawful. And the vast majority of Paddy Power’s clients are British or Irish citizens, and so will never be voting.

Bearing that in brain, Paddy Power’s odds don’t offer a cross-section for the opinions of American voters in almost any way, shape, or kind. It’s simply that more money in the UK has been placed on Clinton. And with the polls leads to the US tightening between the two candidates, 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 indoor smoking at all places of business. At least, that’s what one new city poll indicates in the small city of fewer 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 company, 62 % of Mesquite residents support a local ordinance to completely ban smoking indoors. That could change the law that is current continues to permit cigarette smoking 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 company establishments. (Image: Danny Drake/Press free dolphin treasure pokies of Atlantic City)

Nevada passed the Indoor that is clean Air in 2006, and made smoking cigarettes inside workplaces and public buildings illegal.

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

‘Everyone deserves to breathe clean interior air. No one should have to sacrifice their health for a paycheck,’ the coalition trying to amend the town law states.

With help seemingly current, 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 your voters to determine. It is up to the populous city leaders,’ Christine Picior, a coalition user, told The Spectrum.

Smoke-Free Impact

The city that is small of sits northeast of Las vegas, nevada on the Nevada and Arizona edge. The historic city relies heavily on tourism, using its casinos and pioneering history to lure visitors arriving at and from las vegas in the I-15 interstate.

It continues to be unclear whether a casino smoking ban would bring new bettors to Mesquite, or turn away faithful customers. But it’s likely that local residents, whom also gamble, along with casino workers, are more interested in their long-term wellness these days.

In Macau, a similar crusade to ban smoking was not very effective. Though smoking is confined to designated lounges, workers complained patrons often fail 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 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 acting on behalf of casino employees called regarding the resorts to enact a citywide that is one-day smoking cigarettes ban on floors, smoking lounges, and VIP spaces. However with one in 2 Chinese citizens older than 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 couldn’t be the city that is first enforce such policies. Smoking is banned in all the major poker rooms in Las Vegas, though smoking on primary casino floors stays prevalent.

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 income dropped 17 percent within the year following the new ordinance.

Proponents of clean interior atmosphere says Harrah’s is using the smoking cigarettes ban as a justification, and point to riverboat casinos in other parts of Louisiana experiencing revenue that is similar outside the smoking cigarettes ban.

Maybe Pennsylvania has the smoking 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 smoke-free that is percent as they are in Las Vegas and many metropolitan areas across America today.