PASPA revokation to benefit DraftKings
DraftKings CEO says the potential legalisation of sports betting is an “enormous” growth opportunity.
US.- The Supreme Court of the United States (SCOTUS) is expected to revoke the Professional and Amateur Sports Betting Act (PASPA) of 1992 soon and betting companies are getting ready to jump in. That’s why Jason Robins, chief executive and co-founder of DraftKings, explained that the legalisation of sports betting in the US represents an “enormous” growth opportunity for the company.
Robins explained that the company had avoided sports betting due to potential legal problems in the US but said it’s waiting for the verdict of the PASPA case. “It’s not like sports betting is a new activity that all of a sudden is going to be there,” Robins explained, adding: “It already exists, it’s just happening on the black market now.”
Sean Hurley, DraftKings’ newly designated head of sportsbook, will focus on preparing a sportsbook as a “potential new line of business” for the company, should the US Supreme Court opt to allow the national market to be expanded.
Furthermore, FanDuel is reviewing a potential reverse merger with special investment company, Platinum Eagle Acquisition Corp., news website Axios reported. Like DraftKings, the company aims to manoeuvre itself into a good position should PASPA gets revoked.
