Tag: Company

DraftKings Will Become Publicly Traded Company After SBTech Merger

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After months of conjecture and speculation, the mammoth merger between DraftKings and sports betting technology provider SBTech has become official.

DraftKings, a daily fantasy sports giant and legal sports betting power, has “entered into a definitive business combination agreement,” according to a release, with Diamond Eagle Acquisition Corp. and SBTech. As a result, among other byproducts, DraftKings will become a publicly-traded company.

Details of the DraftKings deal

Without getting too far into the weeds, institutional investors will funnel some $304 million toward the newly combined DraftKings, which itself will feature a market cap of $3.3 billion and over $500 million in unrestricted cash.

The newly formed company becomes the only US-based vertically integrated sports betting and online gaming company. The deal is expected to close within the first half of 2020.

Diamond Eagle, a publicly traded “special purpose acquisition company,” will change its name to DraftKings once the merger finalizes. As such, DraftKings will become a public company.

“I look forward to building significantly upon our goals of continuing our state-by-state rollout,” said DraftKings CEO Jason Robins, “and creating the most entertaining and engaging customer experiences for sports fans globally.”

Two major sports betting players unite

As it has been well-publicized, DraftKings has grown into a prominent operator in the legal sports betting world. Its DraftKings Sportsbook has evolved into a market-dominant product in New Jersey as well as West VirginiaIndiana and Pennsylvania.

While DraftKings has leveraged its partnership with Kambi Group to develop online and retail sportsbooks, SBTech provides a turnkey solution, as it did for the only mobile sportsbook in Oregon earlier this year.

In an investor presentation, DraftKings noted that it will have a greater ability to release more innovative and unique betting products. With SBTech’s risk management, DraftKings will obtain better odds and more revenue.

In addition, with SBTech in its corner, SBTech will not have to rely on third-party help, aka Kambi. With in-house tech, DraftKings will be able to reduce costs.

DraftKings expanding outlook on gaming

While sports betting has quickly become a significant revenue-driver for DraftKings, the company is keeping its eyes on other verticals, as well.

When considering ways in which to boost betting business, cross-selling via an online casino is a pretty good solution.

In its investor presentation, DraftKings estimated that iGaming and sports betting could generate between $2.9 billion and $4.7 billion in annual revenue. Up to $1.2 billion could stem from iGaming such as online casinos. In New Jersey, 98% of DraftKings’ iGaming customers have been “cross-sold” from other DraftKings products.

How expansive could this merger become?

As noted, DraftKings is already a major DFS and sports betting player and still finding states in which to expand.

SBTech itself is no slouch with partnerships in New Jersey, Pennsylvania, Oregon, Arkansas and Mississippi. Internationally, SBTech operates in Mexico as well as in 15 European countries.

Now, courtesy of this merger, SBTech gains a stronger foothold on American soil. Now, DraftKings has its own tech. Now, if desired, it has an avenue overseas.

Now, DraftKings has more power.

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Apps That Google Play Turns Down: A Guide for Every Android App Development Company

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If I ask you to name the must-go place for every Android users, hardly, anybody would do an error by deviating from Google Play. The official app store of Android is getting bigger and bigger with every passing day. The number of app download went up from 1 billion in August 2010 to 65 billion in May 2016. Definitely, the success can be attributed to the incessant effort of every Android app development company and their developers.

However, way to Google Play is not easy. In fact, it’s getting tougher with every passing day. Google demands more commitment to quality from every Android mobile app development company. Here is a list of content materials that are not accepted by Google in the submitted apps.

Sexually Explicit Content

Companies in Android development should avoid building apps with content materials depicting sex acts or sexually suggestive poses, promoting sexually explicit user-generated content or content showcasing, describing or encouraging bestiality or marketing sex toys.

Child Endangerment

Google not just turns down apps containing any kind of child sexual abuse materials but also exercises legal measures. Google Accounts of such app development companies are also seized.

Violence

An Android app development company should refrain from building apps containing or depicting any type of gratuitous violence or other dangerous activities, for instance, app content depicting realistic violence or violent threats to any person or animal, terrorist groups or their attacks, violent activities, including bomb- or weapon-making or instructions on how to create bombs or suicides.

Bullying and Harassment

In no way, an Android app should facilitate or encourage threats, harassment, or bullying. Apps relying on user-generated content (UGC) should also adopt right review process to stop such digital content. Posts, comments, or photos within an app aimed at harassing or ridiculing a person are not rejected.

Hate Speech

Google Play loves peace and so should developers, after all, they are not different from the rest of the society. They should not build apps advocating inflammatory speeches against groups of people targeting their origin, religion, disability, gender, age, sexual orientation, etc.

Sensitive events

Businesses trying to capitalize on natural or any kind of tragedy linked to an individual, group or society will find Google Play harsh. Hence, Android app development companies should not waste their time and resources on such apps.

Gambling

Google Play is not the right place for apps linked with gambling, including online casinos, sports betting, lotteries, etc. Even if the app is redirecting users to a different site or app, it would be considered as a violation against the Play Store conducts.

Illegal Activities

Apps depicting or encouraging illegal activities like sale or purchase of banned drugs or prescription drugs without a prescription, consumption or marketing of drugs, alcohol, or tobacco by minors are certain to get declined by Google Play.

Hope the information was useful. No matter where we come from, we should support Google and endeavor to build a peaceful and progressive society. If you are an Android developer, don’t build such apps; if you are the user, don’t download such apps, and if you are from any law enforcement agency, don’t adopt any soft corner for people or companies behind such apps or content.

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Source by Dindayal Gupta