This Weeks Gambling News Discusses Michael Jordan’ Partnership With DraftKings Sportsbook

This Weeks Gambling News Discusses Michael Jordan' Partnership With DraftKings Sportsbook

Thank you for stopping by and watching this week’s gambling news video and podcast. Before we get into the four gambling news stories, we are going to discuss the newest online slot machines that were released. Last week, Pragmatic Play released Curse of the Werewolf Megaways, while Shuffle Master released the MONOPOLY Big Spin slot machine. 4ThePlayer came out with 2 Gods Zeus vs Thor, while Games Inc. released Book of Legends. Finally, 1X2 Gaming unleashed their Battle Maidens Cleopatra slot machine. Now, for this week’s gambling news video and podcast, we will start off by discussing how Michael Jordan purchased an equity stake in DraftKings. After that, we will go over how the NFL is offering sponsorship opportunities for sports betting, and how loot boxes continue to get negative attention from the eSports industry. Lastly, we discuss how the Shinnecock Indian Nation has formed a new partnership for New York casino plans.

Michael Jordan Joins DraftKings’ Sportsbook Board As Special Advisor

Michael Jordan Purchases Equity Stake in DraftKings

Former NBA superstar and long-time entrepreneur Michael Jordan has recently purchased an undisclosed equity stake in the US sportsbook DraftKings. He will also serve on the company’s board as a special advisor. He is the current owner and chairman of the Charlotte Hornets franchise in the NBA. The news of this arrangement drove up the share price of DraftKings more than seven percent. As of Sept. 2, it was trading at $39.60 a share. DraftKings went public in April following a three-way merger. SBTech and Diamond Eagle Acquisition Corp. were the other two partners. The principle business is legal US sports betting.

The NFL And Legal Sports Betting Find Common Ground

The NFL Offers Sponsorship Opportunities for Sports Betting

The NFL took a hardline stance against sports betting for years. On the eve of the 2020 season, the league has opened its doors to the emerging US market. Companies such as DraftKings and FanDuel have quickly become market leaders. FanDuel formed a strategic marketing partnership with the Denver Broncos earlier this year. The NFL voted to allow individual team sponsorships in May and Denver was the first to take advantage. More deals are expected to close in the coming months. The Raiders will be making the move from Oakland to Las Vegas this season. Allegiant Stadium is in close proximity to the famous Las Vegas Strip.

Why Are Loot Boxes Continuing To Draw Comparisons To Slot Machines

Esports Games Draw Negative Attention Through Loot Boxes

Multiple lawsuits are in the works over the concept of loot boxes in certain video games. They have been compared to Las Vegas-style slot machines. This would make them illegal under certain state laws such as California. Loot boxes are digital grab bags for virtual enhancements. However, they need to be purchased as a source of revenue enhancement. Popular video games such as Fortnight, Brawl Stars and Madden NFL have been specifically identified in these lawsuits. Game manufacturers include EA Sports, Epic Games and Supercell Oy. Gaming platforms such as Google and Apple are also involved.

The Shinnecock Indian Nation Forms Partnership For New York Casino Project

Shinnecock Indian Nation Form New Partnership For New York Casino Plans

Since 2010, the Shinnecock Indian Nation has pursed plans for a New York casino. However, to date it has not been in the cards. A recent partnership with Seminole Hard Rock Entertainment could change the tribe’s hard luck. Also involved in this new partnership is local developer Tri-State Partners. The plans include “a world-class entertainment destination.” The initiative seeks to “further the nation’s inherent sovereignty through economic growth and development.” Part of the process is the development of a compact with New York. This covers a formal agreement for revenue-sharing as well as the location and casino plans.

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