Mark Cuban is investing in a company that caters to your day-to-day fantasy activities market, an excellent sign for players who regularly participate in the contests.
Billionaire business owner Mark Cuban may be the outspoken owner of the NBA’s Dallas Mavericks and renowned for appearing on ABC’s ‘Shark Tank.’ The tycoon made his fortune when you are ahead of the tech curve, now Cuban’s focusing their attention on another burgeoning industry: daily dream sports (DFS).
Fantasy Labs, a platform of proprietary analytical information and tools that players can used to increase their DFS performance, announced this week that Cuban has made an investment that is undisclosed the company.
‘We attracted a significant amount of interest from outside investors,’ Fantasy Labs said in a statement. ‘We identified Mark as the ‘dream investor’ … Bringing on Mark is a strategic move that we couldn’t avoid.’
Cuban expressed their excitement in joining the ongoing business because well. ‘The explosive growth of fantasy activities, and its involvement with brand new categories of competition like eSports, advances the need for high-end resources like the platform offered by Fantasy Labs,’ Cuban stated.
Cuban’s interest in DFS comes at a time that is somewhat surprising taking into consideration the coast-to-coast legal battles day-to-day fantasy operators are currently involved in.
From nyc to California, the conversation to find out whether DFS constitutes skill vs. luck-based games has proponents and antagonists vociferously voicing opinions on both sides of this debate.
Nyc Attorney General Eric Schneiderman recently ordered DraftKings and FanDuel to prevent wagers that are accepting the state’s residents.
The Empire State AG is additionally attempting to fine the operators up to $5,000 per situation for previous entry buy ins, a potential total of $3 billion should all of the 600,000 nyc cases receive the penalty that is full.
That would likely lead both DFS platforms into bankruptcy.
Fantasy laboratories wil attract to investors, because it gives them a method to enter the marketplace without actually providing daily dream competitions.
Fantasy Labs is a third-party tool that offers users added research and leverage in picking their rosters on DFS websites.
Regardless, Cuban thinks Schneiderman and one other handful of states trying to punish the budding market need certainly to rethink their ways.
‘It (daily fantasy sports) has made watching our games on TV more enjoyable,’ the NBA owner said recently. ‘Hopefully, the stupidity and hypocrisy in a few states will be cleared up in the courts shortly.’
This week with Fortune magazine, Cuban said he believes gambling will become legalized across the country in the coming years and that online gambling might lead the way during an interview.
‘It’s inevitable. It’ll take a moment for the courts to overcome the grandstanding by a few region attorneys, but as soon as that occurs I do believe we will have a slow but yes availability of gambling throughout the country,’ Cuban stated, jabbing Schneiderman right where it hurts.
Cuban has been snagging up gaming and entertainment organizations recently. He is a part-owner of Virtuix Omni and Magic Leap, two organizations making progress in the virtual and blended reality markets, because well as Unikrn, a platform similar to DFS, but geared towards eSports.
Like any smart capitalist, Cuban invests only in companies and markets he believes sit for growth. Despite the ongoing appropriate saga surrounding DFS, Cuban’s interest is certainly a good indication for the industry that is controversial.
Nevada Casino Revenues Up for Fifth Year in a Row
The crowds are back in nevada while the city records its fifth revenue that is yearly for 2015. (Image: travelblog.viator.com)
Las Vegas has staged many a celebrity revival and today it’s staging certainly one of a unique. The city that has been once dubbed ‘ground zero of the world financial crisis,’ because the downturn of 2008 crashed its property market and ravaged its casino industry, continued its bounce back once again throughout 2015.
This week the Nevada Gaming Control Board reported the town’s fifth year that is consecutive increases in total casino revenue.
The state’s major casinos reported a 2.9 per cent upsurge in profits over 2014, at $24.6 billion, although this remains 2.6 percent lower than the 2007 pre-recession record high that is all-time.
The figures illustrate the shift away from reliance purely on video gaming, which made up just 43.2 percent of the total haul, the industry’s lowest-ever percentage.
A recent LVCVA study suggested fewer people are coming to Vegas purely to gamble, or even to wager money at all while the Las Vegas Convention and Visitors Authority (LVCVA) recorded an all-time record for visitor numbers last year.
Just 12 percent associated with the 41 million Vegas visitors in 2014 came primarily to gamble, according to the research, although 71 percent placed at the very least one bet during their stay.
Alternatively, the multitudes are coming for the amenities that are non-gaming the restaurants, the nightclubs and pool parties, the shopping, and possibly even for the daring feats such as for example the Stratosphere’s bungee jump from 829 legs. Gambling, it appears, is indeed century that is last.
‘It’s a sign of the market that is changing’ David Schwartz, director associated with the University of Nevada, Las Vegas, Center for Gaming Research, told NevadaAppeal.com this week. ‘Food is growing and gaming as a percentage is shrinking. The things I’m hearing from people is they spend more on entertainment and food than gambling. Itâ€™s this that the visitors seem to want.’
And when all the accounting was done, Nevada’s casinos still showed a net loss of almost $661.8 million for the 12 months, although this figure was down 11 percent compared to the previous 12 months.
It’s very nearly as if the loss leaders are now completely reversed, with gaming being the shill for all the other stuff that is money-making now lures site visitors to Sin City, in place of the other way around.
Caesars Spoils the Party
A lot of this loss can be attributed to Caesars and the interest paid on its billions of bucks of debt, and to the writing down of assets as an element of its bankruptcy proceedings.
Caesars’ predicament aside, the feeling is good. The industry’s losses have been narrowing every and analysts are optimistic that gaming may well find itself in the black again by the end of 2016, a year that is expected to break visitor records once again year.
Meanwhile, the off-Strip casinos are going from strength to strength. Downtown was hit specially difficult by the downturn that is economic.
As the big Strip hotels slashed their prices as a response to the recession, downtown casinos had been forced to go also low in order to fill rooms at any cost.
But now, in a happier climate that is financial the Strip costs are up while the casinos of Fremont Street have reasserted themselves while the budget alternative Vegas experience.
Dutch Online Gambling Reforms Get Sudden Tax Migraine
Dutch Parliament in The Hague, where amendments happen recommended to your Remote Gambling Act which could doom the process that is whole failure. (Image: euro-islam.info)
Holland’s gambling reforms, which make an effort to modernize the Dutch on the web and land-based video gaming markets, have actually been slow-moving, to say the least.
Drawn up in 2013 to overhaul the nation’s 50-year-old laws that are existing they were initially likely to be rubber-stamped in late 2014, nevertheless the Dutch Remote Gambling Act remains being debated by committee in the reduced House, with no end in sight.
It’s a shame, because foreign operators are lining up to be element of what might be a online that is huge gambling, or at least these were.
The latest fly in the ointment is the fact that the 2 ruling coalition parties seemed this week to have suddenly and unexpectedly flip-flopped on the 20 percent tax rate for online gambling companies. Instead, they propose a blanket 29 % rate for both on the web and operators that are land-based.
Online Gaming Looking Grim
It was enough to help make leading gaming that is dutch tear their hair away. One Netherlands that is such gaming, Justin Franssen of Kalff Katz & Franssen, told eGaming Review that there was now a ‘real likelihood’ that the Dutch online gaming market would fail.
‘Operators have discovered their lessons in other jurisdictions and we think interest in the market will decrease if and seriously when these motions pass parliament,’ he said.
Because possibly the one overriding goal associated with the remote gaming bill was to channel Holland’s many enthusiastic online gamblers away from the overseas markets in order to higher protect consumers.
Since the united states currently does not have any licensed online gambling websites whatsoever, it will be fair to say that 100 % of Dutch online gamblers engage with these areas, which can add up to an approximated 1.5 million adults.
The goal regarding the bill ended up being to achieve a ‘channelization rate’ of 80 percent away from the market that is offshore toward the brand new licensed operators.
European Commission Supports Differentiation
A tax rate of 20 percent was deemed to be a realistic method of achieving these ambitions. Overtaxing operators prevents them from competing effectively with their counterparts that are unlicensed which means the players will simply go where the product is more inviting.
It would appear that the politicians are bowing to pressure from litigation launched club player casino no deposit bonus codes 2017 year that is last land-based gaming association Euromat, which complained to the EC that the tax differentiation for land-based and online gaming companies in Holland violated EU law.
Except it doesn’t. The EC officially takes that differentiation as appropriate, and is happy to keep it as much as specific member states to choose, as was reaffirmed in 2014 by a land-based litigants situation from the licensing regime that is danish.
At worst, the new proposal helps to determine another failed European online gambling market. At best, it will down be shot, and can delay the method yet further.
Research by Holland Casino recently suggested that previous projections may have underestimated the scale associated with Dutch online gambling market and that it could possibly be worth over €1b ($1.1 billion) each year.