Fantasy sports platform DraftKings is betting on sports gambling, CEO Jason Robins told Cheddar at SXSW.
It’s a reversal for the company, which has long held it’s a game of skill, and not a game of chance.
But the move all hinges on a pending legal battle in DC.
“The Supreme Court is considering New Jersey’s case to allow for sports betting in their state, which, depending on how they rule, could effectively end up removing the federal ban on legalizing and regulating sports wagering,” Robins said.
States across the U.S., with the exception of Nevada, have banned sports gambling for 25 years.
But in 2012, former New Jersey’s Governor, Republican Chris Christie, signed a bill into law that effectively legalized sports betting. That set off a series of legal challenges from sports leagues, including the NCAA, the NFL, and the NBA. The case landed in front of the Supreme Court in December 2017, with a decision expected in a few months.
In anticipation, DraftKings has already started building out a product that would facilitate sports betting and is looking into partnerships with licensed brick-and-mortar casinos and content integration.
There is one thing that’s not on the company’s immediate horizon, though: an IPO.
“We eventually want to go public, but I don’t think right now is the right time for us. Probably in the next couple years,” Robins said. “There’s still a lot of work we need to do to be prepared to be a public company.”
Last week reports emerged that rival FanDuel, with whom the company unsuccessfully tried to merge in 2016, was looking to go public through a so-called reverse merger.
Nicolas Halftermeyer, Communications & Product Branding Director, SoftBank Robotics, and Emile Kroeger, Robotics Engineer, Humanizing Technologies, join Cheddar Reveals to unveil Pepper and NAO, the humanoid robots designed to interact with humans.
On this episode of Cheddar Reveals, Christopher Atkeson, roboticist and a professor at the Robotics Institute and Human-Computer Interaction Institute at Carnegie Mellon University, discusses what the robots of the future will look like, the role they will play in society and different industries, and if they will they ever reach human-level sentience; Nicolas Halftermeyer, Communications & Product Branding Director, SoftBank Robotics, and Emile Kroeger, Robotics Engineer, Humanizing Technologies, unveil Pepper and NAO, the humanoid robots designed to interact with humans; Cheddar gets a look at Curiosity Stream's 'iHuman.'
Christopher Atkeson, roboticist and a professor at the Robotics Institute and Human-Computer Interaction Institute at Carnegie Mellon University, joins Cheddar Reveals to discuss what the robots of the future will look like, the role they will play in society and different industries, and if they will they ever reach human-level sentience.
When it comes to diversity in children's toys, we have come a long way as a society but we still have a ways to go. One group of students decided to take matters into their own hands. Truly You! Character Creator is a fashion illustration activity set made for youth by youth. Lindsay Buckingham, one of the toy’s creators, sat down with Cheddar News to talk all about it.
Apple revealed its plans for new IOS software, products, and more at its Worldwide Developers Conference. However, new features added to iMessage, including options to delete and edit already sent text messages, stole the show.
Meta's announcement that COO Sheryl Sandberg will be stepping down from her role after 14 years with the company has left investors wondering about the tech giant's future. Doug Astrop, a managing partner at Exponential Investment Partners (an investor in Meta), joined Cheddar News to discuss what the personnel change to Javier Olivan means for investors and the future of the Meta. "They are bringing somebody up who's been there a long time, who has been the chief revenue officer, and so I don't think it means major changes," he said. "but symbolically it's important and significant."
