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 business through his investment firm Revolution development.
Ted Leonsis, owner of this Washington Capitals and Washington Wizards, has purchased a stake in DraftKings through his investment company, Revolution Growth.
This is certainly DraftKing’s second major round of financing in only over a year. In July 2015, the organization surely could raise a $300 million war chest to help finance its ambitions that are international $150 million of which came 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, but. Facing a threat of billions of bucks in fines from New York Attorney General Eric Schneiderman, DraftKings’ international expansion plans were temporarily curtailed, as appropriate costs mounted.
The news that is good given that DFS has returned in New York, is the fact that industry is once again regarded as being investable. And that’s despite DraftKings market cap being damaged by the many legal challenges it has faced. In July 2015, the business was respected at around $2 billion, and while its valuation was not disclosed during this round of investment, Eilers & Krejcik Gaming has approximated the organization’s worth to be around half of that figure today.
The analyst additionally said that, in light of this new investment, a merger between DraftKings and FanDuel would now seem unlikely. In June, it was reported by Bloomberg sources that the companies were engaged in negotiations regarding a merger, which investors that are private both companies had been pushing for quite a while.
Consolidation could have made sense, largely because dolphin treasure casino slot game associated with the amount of money both devote to trying to out-market one another while offering a tremendously service that is similar. Then there are the costs become saved from both businesses’ various legal skirmishes in the United States. Add the increase in licensing costs and local fees as DFS becomes regulated on a state-by-state that is gradual, as well as the attractiveness of a merger becomes clear.
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 culture of our company,’ also its ‘deep expertise in activities, technology, and policy.’
Revolution’s Steve Murray, who will join the DraftKings board of directors as part of the deal, stated that their company has the ‘expertise to help entrepreneurs execute on the ideas, 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 its in order to stay competitive.
Philippines President Rodrigo Duterte is walking back comments directed at US President Barack Obama. Simply hours after Duterte said he does not answer to anybody ‘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 carpeting treatment when 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 out of national priorities and perceptions,’ the more calculated and statement that is civil. ‘ Even though 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 aided by 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 destroy suspected drug operators and break up cartels, and nearly 2,000 killings have taken spot because the 71-year-old took office on June 30, 2016.
Duterte recently did an about-face for a previous stance on internet gambling. After forcing the country’s gambling arm PAGCOR not to ever 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 throughout the national country have provided multimillions in tax revenue to the us government. But also for PhilWeb Corp and its own owner Roberto Ongpin, the ongoing celebration seems to be over. PhilWeb had claimed a license that is exclusive operate the cafes offering eGames, just before the Duterte dictum.
However with so numerous millions in potentially lost video gaming tax income on the line, Duterte’s strong moral convictions appear to have, um, disappeared.
‘Pay the taxes that are correct . . gamble until you die. I really do maybe not really care,’ the Filipino president stated about the online gaming reinstatement.
Duterte has made no secret about his wishes to eradicate drug dealers through the Philippines. But close behind the narcotics trade are those tangled up in running unlawful lotteries and gambling.
On September 6, your head police chief in Cagayan de Oro City announced that his agency will be increasing its efforts to restrict non-regulated gambling. The 10th-most populated city in the Philippines, the Cagayan de Oro chief stated 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 sales of town’s regulated lotto.
Duterte’s lead law enforcement official Ronald Dela Rosa, chief manager for the Philippine National Police, states his force will go after illegal gambling once the war that is present drugs concludes in six months.
Duterte wasn’t the just international diplomat failing 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 nearly solely utilized to welcome worldwide leaders was mysteriously missing.
In reality, China don’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 were me, I would personally state, ‘You know what, folks, I respect you a lot but close the doors, let us get free from here.”
Trump made the remarks at an event in Ohio, and his Democratic challenger was not far. 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 this week.
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 one of the most dramatic presidential campaigns of the past 100 years.
A new Paddy Power billboard ad campaign in Ireland may be raising some eyebrows, but there’s 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 may be the New Black? Irish bookmaker Paddy Power is used to getting under people’s skin, but this time, it’s all about what’s on the exterior for the upcoming US presidential election. (Image: Paddy Power)
Offering odds on among the applicants running for president of america, Paddy Power’s new billboard advertisement bears images of presidential GOP hopeful Donald Trump alongside Barack Obama, while asking if ‘Orange is the newest black?,’ an use the most popular Netflix TV series about feamales in a minimum-security federal prison who 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.
Paddy Power installed the billboard in Dublin within the weekend, in preparation for the exhibition that is forthcoming game between Boston College and Georgia Tech, hoping to draw the interest of visiting Americans.
‘With the gridiron attracting hordes of American visitors we thought we’d give them a little understanding of how their Republican candidate is faring in the wagering,’ 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 exists a chance that is realistic orange will be the new black.’
To be honest, we never ever did we think we would live to see the orange that is first associated with united states of america, but exactly what it’s likely that Paddy Power giving The Donald of making history now?
At 3/1 against, Paddy Power believes there’s a 25 percent chance of Trump making it towards 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 help make around €1 million ($1.12 million), a figure that’s expected to increase in the coming months.
But while bookmakers are notoriously proficient at predicting the outcome of governmental events, we’re perhaps not sure it applies here. Within the United States, gambling on politics is unlawful. And the vast most of Paddy Power’s customers are British or Irish citizens, and so will not be voting.
Bearing that in brain, Paddy Power’s chances do not provide a cross-section for the opinions of US voters in almost any real way, shape, or kind. It is simply that more money in the UK has been placed on Clinton. Along with the polls results in the usa tightening between the two candidates, they could yet be painting the White House a shade that is deep of come November 8.
In Mesquite, Nevada, voters are prepared to ban smoking that is indoor all places of company. At the least, that’s what one new city poll suggests in the small town of under 18,000 residents that rests about 80 miles outside of Las Vegas.
Based on a poll conducted by Public Opinion Strategies, a research that is virginia-based, 62 % of Mesquite residents support a local ordinance to completely ban smoking indoors. That would replace the present law that continues to permit smoking at gambling enterprises, nightclubs, and some bars.
Smoking on gambling floors could soon be prohibited inside Mesquite, Nevada casinos, after having 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 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. Therefore the Mesquite Citizens for Clean Indoor Air group now wants to change that.
‘Everyone deserves to breathe clean air that is indoor. Nobody needs to sacrifice their health for a paycheck,’ the coalition trying to amend the populous city legislation states.
With support seemingly present, the Mesquite City Council could introduce an ordinance to outlaw all indoor smoking at places of business and implement this 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.
The small town of Mesquite sits northeast of nevada on the Nevada and Arizona edge. The town that is historic heavily on tourism, which consists of casinos and pioneering history to lure visitors coming to and from las vegas regarding the I-15 interstate.
It remains 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, as well as casino workers, are far more enthusiastic about their very own health that is long-term days.
In Macau, a comparable crusade to ban smoking was not very successful. Though smoking is confined to designated lounges, workers complained clients often fail to comply with the mandate and continue smoking on the basic casino floor. In China (and Asia generally), the West’s campaign that links cigarettes and cancer doesn’t seem to have taken down much, if at all, and citizens that are many still heavy cigarette smokers for the reason that country.
Final May, two lobbying organizations functioning on behalf of casino employees called on the resorts to enact an one-day citywide indoor smoking cigarettes ban on floors, smoking lounges, and VIP rooms. But with one in 2 Chinese citizens avove the age of 15 reportedly a smoker that is regular the casino companies didn’t budge.
If Mesquite opts to ban smoking from its casinos, it mightn’t be the city that is first enforce such policies. Smoking is banned in most of the major poker spaces in nevada, 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 smokers to outdoor ‘smoking lounges,’ aka steel benches, caused revenues to fall, according to Harrah’s New Orleans. The city’s only land-based casino said slot revenue fell 17 percent in the 12 months following the brand new ordinance.
Proponents of clean indoor air says Harrah’s is utilising the smoking cigarettes ban as a justification, and point to riverboat casinos in other areas of Louisiana experiencing similar revenue declines outside the cigarette smoking ban.
Possibly Pennsylvania gets the cigarette smoking predicament solved.
The Keystone State’s 12 casinos are permitted to designate up to 50 percent of the floor for smoker-friendly gaming. Dining areas are 100 percent smoke-free, since they are in Las vegas, nevada and most cities across America today.