Tag: DFS

DraftKings exits UK daily fantasy market  

DraftKings has closed its UK daily fantasy offering as of today (4 October), in an effort to “optimise its business”. Users of the app this morning received emails notifying them the product was being pulled from the market with immediate effective.
DraftKings’ users were told they can withdraw funds after the closing date and in-game currencies like Crowns and DK Dollars would be converted into US dollars.

“Since DraftKings’ launch in Great Britain, we have been proud to be a part of the country’s passionate sports and daily fantasy sports fanbases,” the email read.

Responding to questions from iGB a DraftKings spokesperson said:”This decision was made as part of our ongoing efforts to optimise our business.

“We are grateful to all our customers across Great Britain and are committed to ensuring a smooth transition. Moving forward, we will continue to focus on growth and delivering value in other key markets, including US sports betting.”

It launched in the UK on 5 February 201..

Read more

PrizePicks reportedly considering M&A, funding options

PrizePicks has tapped investment bank Moelis & Co to explore potential mergers and acquisitions, according to industry sources.
The Atlanta-based company – and the self-proclaimed largest daily fantasy sports (DFS) operator in North America – isn’t actively seeking a full-scale sale. It’s evidently keen on expanding and strengthening its footprint through strategic partnerships or acquisitions and potentially has an eye on raising a war chest to compete in regulated online sports betting with the likes of market leaders DraftKings and FanDuel.

Bloombergwas the first to report the rumour involving Moelis & Co’s involvement, although so far it’s light on details.

PrizePicks stands out in the DFS landscape with its unique approach to gaming. Unlike traditional DFS platforms where users draft entire teams, PrizePicks allows users to predict the over/under on individual player statistics and fantasy scores. PrizePicks recently found its way back into several regulated markets, which could..

Read more

Short on votes, Minnesota’s house punts legal sports betting to Friday

With a legal sports betting bill listed as the second item on the calendar, the Minnesota house met for more than 11 hours on Wednesday (15 May), but didn't broach the subject. Lawmakers will have another chance to move the bill on Friday (17 May).

Two sources told iGB that bill sponsor Zack Stephenson is short on votes to pass the bill. Earlier this month, Stephenson folded the wagering bill into one that would ban historical horse racing (HHR) machines. The betting bill is moving forward as HF 5274.

Minnesota’s 2024 regular session is set to adjourn on Monday (20 May). The legislature is running marathon sessions to get through bills about paid time off, taxes and other critical issues. Wednesday’s house session ended at midnight. It will reconvene at 11am local time on Friday.

Current bill: 20% tax, 21+, tribal exclusivity

Stephenson, a member of the state’s Democratic-Farmer-Labor (DFL) party, has been carrying legal betting for four sessions. He’s been unable to get it t..

Read more

Tracks and tribes key sticking points in Minnesota wagering debate

Minnesota representative, Zack Stephenson, brought his legal online sports betting bill to the House Commerce Finance and Policy Committee on 3 April, but was met with pushback from committee members.

Committee members pushed back on issues including horse racetracks and how to structure a deal for the state’s 11 tribes.

There was no vote, and HF 2000 is currently sitting in the House Taxes Committee awaiting a vote there. But Stephenson, who is the chair of the Commerce Finance and Policy Committee, said he wanted to have an informational session about Minnesota wagering legislation with his committee as the bill moves forward.

Stephenson’s bill, which was carried over from last session, has been heavily amended, including doubling the tax rate and adding in daily fantasy sports regulation. Stephenson also brokered a deal between the state’s charitable gaming foundations and the tribes that is reflected in the latest version of the bill.

But Commerce Finance and Policy Committe..

Read more

Georgia Senate sports betting bill gets first look in house

A statewide mobile sports betting bill got its first hearing in the Georgia house on Tuesday (12 March).

With just over two weeks remaining in the legislative session, and more than five weeks since the senate passed SB386, a statewide mobile sports betting bill got its first hearing in the Georgia house Tuesday.

There was no vote in the house’s Higher Education Committee, and there could be more discussion later this week, although the committee chairman said a vote is not imminent.

Several representatives from daily fantasy companies testified that they’d like their contests added to the bill while multiple representatives from faith-based and anti-gambling groups testified in opposition.

The bill would allow for 16 online sports betting licences, including eight that would be tethered to professional sports franchises or organisations in the state.

A further seven free-standing licences would be up for grabs with one licence earmarked for the Georgia Lottery, which would als..

Read more

Scout shareholders to vote on 90% share dilution next month

Scout Gaming Group shareholders will vote next month on a share issue that would dilute existing holdings in the business by 90%.

Fantasy provider Scout announced that it would conduct a share issue in order to save the business in June, after it identified a SEK17m ($1.7m/£1.4m/€1.6m) commitment in its finances which it said it was previously unaware of.

The commitment will impact cash flow for third quarter of this year and have a negative effect on profit and loss in the quarter of around SEK5.5m.

As a result of the new cost, Scout leadership took drastic action to save the business, including laying off 68 employees, between its offices in Bergen in Norway and Lviv in Ukraine.

As well as the layoffs, Scout said it would issue 202.7 million new shares, diluting existing shares by 90%.

The board has now revealed more details of the share issue. Each shareholder will be offered the opportunity to buy nine more shares in the business, at SEK0.50 per share.

Scout said that the iss..

Read more

Want To Keep Up To date with our latest news and information? Please enter your email address below to be added to our mailing list

Bookielink.com is operated by Intraseculink Ltd, Registration Number: HE356617, 176 Athalassas Avenue, Office 401, 2025, Strovolos, Nicosia, Cyprus. BLUEINIC B.V. with Registration number 140279 and registered address at Abraham Mendez Chumaceiro , Boulevard 50, is licensed under Antillephone N.V. ,holder of Gaming License #8048/JAZ of the Central Government of the Netherlands Antilles. BLUEINIC B.V. is licensed and regulated in virtue of license number #8048/JAZ2016-030 granted by the Government of Curaçao to BLUEINIC B.V. The license was issued on ‎08-06-2016.

Bookielink.com © 2024 All rights reserved.