Daily fantasy sports data startup Fantasy Labs has "landed a big-time investor" in Mavericks Owner MARK CUBAN, who "invested an undisclosed sum in the analytics platform," according to Hugh Johnson of the DENVER POST. Fantasy Labs "provides high-end statistics and analytics for daily contests run by game sites such as DraftKings and FanDuel." The company has plans to "expand into other areas" such as e-sports. Cuban said he was drawn to Fantasy Labs because he is a "big believer in analytics and data-driven business" (DENVER POST, 1/8).
DEFENDING DFS: Cuban and The Raine Group co-Founder & Partner JOE RAVITCH, each active investors in DFS, gave an impassioned defense of the embattled industry Thursday at the Sports Business Forum staged by Turner Sports at the ’16 CES in Las Vegas. Mirroring comments by MLB Commissioner ROB MANFRED and NBA Commissioner ADAM SILVER earlier Thursday at the same event, Cuban and Ravitch each insisted DFS does not constitute gambling. "It’s not gambling. It’s not gambling. It’s not gambling," repeated Cuban. "You have to be an idiot to think it’s gambling." Cuban also took sharp aim at the motives of state-level politicians who have targeted DFS as illegal gambling. "If you’re an attorney general and want to be governor, this is what you do," he said. Ravitch, whose Raine Group is an investor in DraftKings, said he still believes strongly in the global opportunity of daily fantasy. "It’s very exciting. It touches a passion that people have for their favorite players and favorite teams" (Eric Fisher, Staff Writer).
