Mark Cuban is purchasing a company that caters to your day-to-day fantasy activities market, a great indication for players who regularly be involved in the contests.
Billionaire entrepreneur Mark Cuban is the owner that is outspoken of NBA’s Dallas Mavericks and renowned for appearing on ABC’s ‘Shark Tank.’ The tycoon made their fortune when you’re ahead of the curve that is tech and today 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 use to increase their DFS performance, announced this week that Cuban has made an undisclosed investment in 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 move that is strategic we couldn’t avoid.’
Cuban expressed his excitement in joining the company as well. ‘The explosive growth of fantasy sports, and its participation with brand new categories of competition like eSports, escalates the significance of high-end resources like the platform provided by Fantasy Labs,’ Cuban said.
Cuban’s interest in DFS comes at a somewhat astonishing time, thinking about the coast-to-coast legal battles daily dream operators are currently involved in.
From New York to Ca, the discussion to ascertain whether DFS constitutes skill vs. luck-based games has proponents and antagonists vociferously voicing opinions on both sides of this debate.
Ny Attorney General Eric Schneiderman recently ordered DraftKings and FanDuel to quit wagers that are accepting hawaii’s residents.
The Empire State AG is additionally attempting to fine the operators up to $5,000 per instance for previous entry buy ins, a potential total of $3 billion should each of the 600,000 New York cases receive the penalty that is full.
That could likely lead both DFS platforms into bankruptcy.
Fantasy laboratories is attractive to investors, because it gives them ways to enter industry without actually providing daily fantasy contests.
Fantasy laboratories is a tool that is third-party offers users added research and leverage in selecting their rosters on DFS websites.
Regardless, Cuban thinks Schneiderman and the other handful of states trying to punish the budding market need to rethink their ways.
‘It (daily fantasy sports) has made viewing our games on TV more fun,’ the NBA owner said recently. ‘Hopefully, the stupidity and hypocrisy in a states that are few 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’s going to take the time for the courts to conquer the grandstanding by a few district attorneys, but as soon as that takes place I do believe we will see a slow but yes availability of gambling over the country,’ Cuban stated, jabbing Schneiderman right where it hurts.
Cuban has been snagging up entertainment and gaming businesses recently. He’s a part-owner of Virtuix Omni and Magic Leap, two businesses making progress in the virtual and blended reality areas, since well as Unikrn, a platform much like DFS, but geared towards eSports.
Like most smart capitalist, Cuban invests just in companies and markets he believes sit for growth. Despite the ongoing appropriate saga surrounding DFS, Cuban’s interest is certainly a positive indication for the industry that is controversial.
Vegas Casino Revenues Up for Fifth Year in a Row
The crowds are back in Las Vegas because the city records its fifth revenue that is yearly for 2015. (Image: travelblog.viator.com)
Las Vegas has staged many a celebrity revival now it is staging one of its own. The city that has been once dubbed ‘ground zero of this globe economic crisis,’ because the downturn of 2008 crashed its property market and ravaged its casino industry, proceeded its bounce back once again throughout 2015.
This week the Nevada Gaming Control Board reported the town’s 5th year that is consecutive increases in total casino revenue.
The state’s major casinos reported a 2.9 percent increase in profits over 2014, at $24.6 billion, although this remains 2.6 percent lower compared to the 2007 pre-recession record high that is all-time.
The figures illustrate the shift away from reliance purely on 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.
Only 12 percent of this 41 million Vegas visitors in 2014 came primarily to gamble, based on the extensive research, although 71 percent placed at the 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 the Stratosphere’s bungee jump from 829 feet. Gambling, this indicates, is really century that is last.
‘It’s a sign of the changing market,’ David Schwartz, director of this 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 food and activity than gambling. This is what the visitors seem to want.’
And whenever all of the accounting ended up being done, Nevada’s casinos still revealed a net loss of almost $661.8 million for the year, although this figure was down 11 percent compared to the previous 12 months.
It’s almost as if the loss leaders are now completely reversed, with gaming being the shill for several 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 dollars of debt, and to the writing down of assets included in its bankruptcy proceedings.
Caesars’ predicament aside, the mood is positive. The industry’s losses have actually been narrowing every 12 months, and analysts are optimistic that video gaming may well find itself in the black once again by the conclusion of 2016, a year that is anticipated to break visitor records once more.
Meanwhile, the casinos that are off-Strip going from strength to strength. Downtown was hit specially hard by the economic depression.
As the big Strip hotels slashed their prices being a a reaction to the recession, downtown casinos were forced to go even lower in order to fill rooms at any cost.
But now, in a happier climate that is financial the Strip costs are up additionally the gambling enterprises of Fremont Street have actually reasserted themselves while the budget alternative Vegas experience.
Dutch Online Gambling Reforms Get Sudden Tax Migraine
Dutch Parliament in The Hague, where amendments happen suggested to the Remote Gambling Act that may doom the entire procedure to failure. (Image: euro-islam.info)
Holland’s gambling reforms, which make an effort to modernize the Dutch on the web and land-based gaming markets, have actually been slow-moving, to state the smallest amount of.
Drawn up in 2013 to overhaul the nation’s 50-year-old laws that are existing they were at first expected to be rubber-stamped in late 2014, but the Dutch Remote Gambling Act continues to be 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 part of what is actually a huge on the web gambling revolution, or at least these were.
The latest fly in the ointment is the fact that the two 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 per cent price for both online and operators that are land-based.
Online Gaming Searching Grim
It had been enough in order to make leading Dutch gaming lawyers tear their locks away. One such Netherlands gaming attorney, Justin Franssen of Kalff Katz & Franssen, told eGaming Review that there was now a ‘real likelihood’ that the Dutch online video gaming market would fail.
‘Operators have discovered their lessons in other jurisdictions and we think curiosity about the marketplace will seriously decrease if and when these motions pass parliament,’ he said.
Because possibly the one overriding goal of the remote gaming bill was to channel Holland’s many enthusiastic online gamblers away from the offshore markets in an effort to better protect consumers.
Since the nation currently does not have any licensed online gambling internet sites whatsoever, it might be fair to state that 100 % of Dutch on line gamblers engage with these areas, which accumulates to an approximated 1.5 million adults.
The goal for the bill was to achieve a ‘channelization rate’ of 80 percent away from the market that is offshore toward the new licensed operators.
European Commission Supports Differentiation
A income tax rate of 20 percent was deemed become a realistic way of attaining these aspirations. Overtaxing operators prevents them from competing efficiently with their counterparts that are unlicensed which means the players only will go where the item is more desirable.
It appears that the politicians might be bowing to pressure from litigation launched year that is last land-based gaming relationship Euromat, which complained to the EC that the tax differentiation for land-based and online gaming businesses in Holland violated EU legislation.
Except it does not. The EC formally takes that differentiation as appropriate, and is happy to keep it as much as individual user states to decide upon, as was reaffirmed in 2014 by a land-based litigants situation from the Danish licensing regime.
At worst, the brand new proposal will help to determine another failed European gambling market that is online. At most readily useful, it will be shot down, and certainly will delay the process yet further.
Research by Holland Casino recently suggested that previous projections may have underestimated the scale of the Dutch online gambling market and so it could be worth over €1b ($1.1 billion) per year.