Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leo<span id="more-592034"></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 in the ongoing 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.

This might be DraftKing’s second major round of money in just over a year. In July 2015, the company surely could raise a $300 million war chest to help finance its international ambitions, $150 million of which arrived 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 appropriate difficulties, nevertheless. 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 very good news, 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 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 stated 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 personal investors in both companies had been pushing for a while.

Consolidation would have made sense, largely because associated with the amount of money both invest in trying to out-market one another and will be offering a really service that is similar. Then there are the expenses become conserved from both https://myfreepokies.com/dolphin-treasure/ companies’ various skirmishes that are legal the US. Add the increase in licensing costs and local fees as DFS becomes regulated for a gradual state-by-state basis, and also 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 activities, technology, and policy.’

Revolution’s Steve Murray, whom will join the DraftKings board of directors within the deal, said that his company has the ‘expertise to help entrepreneurs execute on their tips, especially where sports and policy intersect.’

If the merger is certainly off the table, the likelihood is that FanDuel could start a new round of funding of unique in order to keep competitive.

Rodrigo Duterte Backtracks US Comments, Country Continues Illegal Gambling Crackdown

Philippines President Rodrigo Duterte is walking back responses directed at US President Barack Obama. Simply hours after Duterte said he does not 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.

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 statement that is civil. ‘ Although the immediate cause ended up being my strong comments to particular press questions that elicited concern and distress, we additionally regret it came across as being a personal attack in the US president.’

Obama’s group canceled the meeting upon hearing Duterte’s initial remarks, nevertheless now state they are rearranging the engagement.

Obama has indicated he wants to meet up with the new Filipino president to 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 almost 2,000 killings have taken spot since 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 not 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 throughout the national country have actually provided multimillions in tax revenue to the us government. But also for PhilWeb Corp and its particular owner Roberto Ongpin, the ongoing party appears to be over. PhilWeb had claimed a license that is exclusive operate the cafes that offer eGames, prior to the Duterte dictum.

But with so many millions in potentially lost video gaming tax income on the line, Duterte’s strong moral convictions seem to have, um, disappeared.

‘Pay the taxes that are proper . . gamble until you die. I actually do perhaps not really care,’ the Filipino president said concerning the online gaming reinstatement.

Gaming Operators Enemy #2

Duterte has made no secret about their wishes to get rid of drug dealers through the Philippines. But close behind the narcotics trade are those involved in running unlawful lotteries and gambling.

On September 6, the top 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 stated he will resign if his department cannot eliminate illegal gambling bands through the city within two months.

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

Duterte’s lead law enforcement official Ronald Dela Rosa, chief director associated with Philippine National Police, states his force will go after illegal gambling once the present war on medications concludes in 6 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 Asia now for the G20 Summit. But when the president that is american, the normal red carpet staircase very nearly exclusively used to welcome international leaders was mysteriously missing.

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

‘They won’t even give him stairs, proper stairs, to get out of the airplane,’ Republican 2016 nominee Donald Trump said. ‘ If that have been me personally, I would state, ‘You know what, folks, I respect you a lot but close the doors, let’s get free from here.”

Trump made the remarks at an event in Ohio, and his challenger that is democratic was far 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 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 what’s turning out to be one of many most dramatic presidential campaigns of the last 100 years.

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

A Paddy that is new Power ad campaign in Ireland might 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 effort is perhaps the absolute most uncomfortably smirk-stifling yet.

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

Offering odds on one of the candidates running for president of the usa, Paddy Power’s new billboard advertising bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the latest that is black’ a play on the popular Netflix TV series about feamales 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 Us americans.

‘With the gridiron attracting hordes of US visitors we thought we’d give them a little understanding of 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 race and there’s 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 the usa, but 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 make around €1 million ($1.12 million), a figure that’s likely to double 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. Within the United States, wagering on politics is illegal. And the vast majority of Paddy Power’s clients are British or Irish citizens, and so will never be voting.

Bearing that in mind, Paddy Power’s odds usually do not offer a cross-section for the opinions of US voters in just about any real means, shape, or form. It’s simply that more profit great britain has been placed on Clinton. And with the polls results in the usa tightening between your two applicants, 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 prepared to ban smoking that is indoor all places of company. At least, that’s what one new city poll indicates in the small city of under 18,000 residents that rests about 80 miles outside of Las Vegas.

According to a poll conducted by Public Opinion Strategies, a research that is virginia-based, 62 percent of Mesquite residents support a local ordinance to completely ban smoking indoors. That would replace the law that is current continues to permit 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 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 structures illegal.

But the clean air law 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 change that.

‘Everyone deserves to breathe clean air that is indoor. No one should have to lose their health for a paycheck,’ the coalition working to amend the populous city 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 brand new statute in as little as 60 days.

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

Smoke-Free Impact

The small town of Mesquite sits northeast of Las Vegas on the Nevada and Arizona edge. The historic town relies heavily on tourism, which consists of gambling enterprises and pioneering history to lure visitors visiting and from las vegas regarding the I-15 interstate.

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

In Macau, a crusade that is similar ban smoking wasn’t very effective. Though smoking is confined to designated lounges, workers complained clients usually 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 off much, if at all, and citizens that are many still heavy cigarette smokers for the reason that country.

Final May, two lobbying organizations performing on behalf of casino employees called in the resorts to enact an one-day citywide indoor smoking ban on floors, smoking lounges, and VIP spaces. However with one in 2 Chinese citizens over 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 poker that is major in Las Vegas, though smoking on primary casino floors continues to be 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 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 after the ordinance that is new.

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

Maybe Pennsylvania has the smoking predicament solved.

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