Saturday, November 28, 2020

Tag: DraftKings

Regulus: Betting M&A – preparing for better times

Regulus Partners Sportsbetting merger and acquisions
The Covid-19 pandemic might be preventing the vast majority of mainstream sports around the world from taking place, but it has not stopped significant progress on three sportsbetting-related M&A transactions - Regulus Partners writes.

XFL to build sports betting into league rules

XFL Jeffrey Pollack
American football league XFL says its wants sports betting to play a central role in its business model, while announcing a string of deals with sportsbooks

New York court says fantasy sports law unconstitutional

US Fantasy Sports
The New York Supreme Court has shot down the daily fantasy sports mantra that it’s more a game of skill than chance - placing it back in the penal code for prohibition.   Daily fantasy sports is once again prohibited in the state of New York, after judges ruled it had been illegally authorised by the legislature back in 2016. The abrupt...

Penn National shows its hand with 32 new online skins

In potentially the last of the major casino maneouvres post-PASPA, Penn National has awarded 32 skins to four online firms across 19 states. Although the..

Chicago gambling pacts raise spectre of corruption

Chicago gambling licensing DraftKings FanDuel
As daily fantasy operators, DraftKings and FanDuel, are locked out of Illinois’s betting market - lawmakers are accused of rigging competition to support..

Illinois approves eleventh hour gambling expansion

Illinois gambling expansion approval
A concerted legislative push driven by newly-elected Governor Jay B Pritzker, saw Illinois’ spring session head into overtime, where a last minute gambling expansion..

March Madness, intercine interests and betting bungles

US Flags iGaming Bill
As Atlantic City enjoys its first shot of March Madness, West Virginia’s governor ushers its igaming bill into law, and Chicago hosts a first, albeit...

DraftKings secures 12-state access with Caesars

DraftKings, secures, state access, Caesars
In some of the 12 states that Caesars currently operates casinos, the deal gives DraftKings exclusive rights, but Caesars will still be able to offer its own-branded sports betting and online casino apps.

New York states DFS is not game of chance as DraftKings and FanDuel soldier on

FANTASY, LEGISLATION, dfs, DraftKings, FanDuel
DraftKings and FanDuel have maintained their offerings to New York players, after a ruling by acting Supreme Court justice Gerald Connolly on 26 October that DFS is illegal in the state. Despite a 2016 law maintaining DFS is a game of skill, Connolly overruled

DraftKings increase sportsbook focus with Las Vegas “legend” Johnny Avello

IGT 170 COMPANIES DPS DRAFTKINGS
DraftKings has taken the latest step in signifying its serious sports betting intent by naming Johnny Avello as director of sportsbook operations. The former Wynn Resorts sportsbook director will be based in the DFS operator’s Nevada office…

FanDuel, DraftKings make early strides in US betting sector

us sports betting
FanDuel’s bargain sale to Paddy Power Betfair may not have pleased its ordinary shareholders - but has given it a head start in the race for US betting contracts. Meanwhile its fantasy sports nemesis, DraftKings, is trailing close behind. The only two titans of…

DraftKings signs deal with Resorts Atlantic City for sports betting debut

IGT 166 NAM DPS DRAFTKINGS
DraftKings has announced a partnership with Resorts Atlantic City to provide sports betting in New Jersey. The Daily Fantasy Sports operator agreed the deal after the state began processing legislation in response to the Supreme Court’s decision to overturn PASPA

FanDuel states play for US sports betting

fanduel
The CEO of America's 'other' daily fantasy sports operator says if the Supreme Court opens the door to sports betting in the US, FanDuel wants a piece of the action. Speaking to Forbes, FanDuel's boss Matt King said: “This business is around fan engagement and helping fans feel closer to the things they like, and clearly sports betting is one...

DraftKings eye opening in Ireland’s DFS market

The American daily fantasy sports enterprise have announced they are planning on opening their services in Ireland before the end of the year. DraftKing’s plans were reported merely weeks after their merger with FanDuel was snubbed by the Federal Trade Commission over claims that it would destroy competition in the US DFS market. Jeffrey Haas, DraftKings’ chief international officer, told the...

DFS titans call time on ambitious merger bid

BBi - DraftKings FanDuel DFS merger
The two giants of daily fantasy sports, FanDuel and DraftKings, retreat from their proposed merger amidst enduring opposition from competition watchdogs and escalating legal costs.   Daily fantasy sports duopolies, DraftKings and FanDuel, have ceded their plans to merge after unwavering opposition from US competition authorities. The deal, which would have seen one entity corner more than 90 percent of the burgeoning...

Massachusetts brands DFS ‘game of chance’

BBi - Massachussets DFS game
A Special Commission in the state of Massachusetts has classed daily fantasy sports a game of chance - putting the soft genre’s future on shaky ground.   Massachusetts commission has recommended that daily fantasy sports be considered a game of chance - and therefore subject to online gambling legislation - setting a worrying precedent for the sector’s growth across the US. The...

FTC moves against DraftKings FanDuel merger

BBI - FTC Draftkings Fanduel
The proposed merger between Daily Fantasy Sports giants DraftKings and FanDuel hit its first major snag last month as the US’ Federal Trade Commission (FTC) took steps to block the move.   In an official release announcing its decision, the FTC pointed to the fact that a merger between the two DFS operators would result in a single business cornering 90...

Daily Fantasy Sports giants hedging on antitrust risk

Betting Business - Daily Fantasy Sports
Daily fantasy sports giant, DraftKings soon (perhaps) to become an even more gigantic DraftKings-FanDuel, has achieved another $100m in financing, despite its pending merger not yet finding favour with the relevant authorities.   The company appealed for capital through its most recent fundraising round “Series E1”, although the $100m achieved in this round is only adding to a cash pile of...

DraftKings secures $153m venture capital investment boost

Fantasy Sports
DFS giant DraftKings has finalised $153m worth of investment deals with a range of backers ahead of the NFL season, but sources say the company’s value has dropped dramatically since 2015.   Major DFS operator DraftKings has allegedly managed to secure an additional $153m in venture capital funding – just in time for the opening games of high-profile America’s NFL season. Part...

Maryland drafts consumer protection rules for DFS operators

Betting Business, Maryland, DFS
Daily Fantasy Sports operators have welcomed new regulatory plans in Maryland which will see a range of fresh consumer protections for DFS players put in place.   New proposals set out by comptroller Peter Franchot include age limits for DFS participants, a ban on third-party scripts, rules forbidden DFS employees to take part in the games and a system of demarcation...

Massachusetts signs new tax-free DFS regulations into law

Betting Business, DFS regulations
In a slightly unconventional move for the state, Massachusetts lawmakers have voted almost unanimously to allow DFS operators to offer their services without licensing fees or any new taxation of any kind.   Massachusetts has become the latest in a string of US states to officially legalise DFS, following hot on the heels of New York, Colorado and Pennsylvania.   The regulations allow...

New York governor signals green light for DFS

Daily Fantasy Sports
Governor Andrew Cuomo has given the all-clear for Daily Fantasy Sports operators to resume their operations in the state with a new bill that defines the activity as a game of ‘skill’ rather than ‘chance.'   New York has become the latest state to legalise Daily Fantasy Sports after lawmakers signed a bill defining the activity as a ‘game of skill’. Governor...

Merger between FanDuel and DraftKings ‘incredibly unlikely’ under US law

Jason Robins DraftKings FanDuel Merger Fantasy Sport
The two largest daily fantasy sports operators are considering a ‘safety in numbers’ approach against the current regulatory onslaught in America - but legal experts say that US competition laws could be an impossible hurdle to overcome.   Legal experts have weighed in after it emerged that daily fantasy sports giants FanDuel and DraftKings were in talks over a merger, stating...

DFS operators scoop a licence-free ride in Mississippi

DFS Daily Fantasy Sports Mississippi
Mississippi legislators last month passed a new bill that will allow Daily Fantasy Sports companies like FanDuel and DraftKings to operate freely in the state without needing a licence. Governor Phil Bryant finally signed SB 2541 - originally titled the ‘Fantasy Contests Act’ - last month after a lengthy tug of war between the Senate and the House of Representatives...

Congress DFS debate could open doors for US sports betting

Frank Pallone DFS Debate
While the congressional hearing on DFS was hampered by the lack of participation by leading players in the industry it offered a faint glimmer of hope for the legalisation of sports betting at a national level. Seven months after DraftKings and FanDuel were originally caught up in insider trading allegations, the US Congress has finally shone a spotlight on the...

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