DraftKings and FanDuel are "planning an ad blitz to remind sports fans they're still in business after legal battles led both to shut down in New York," according to Claire Atkinson of the N.Y. POST. FanDuel is "breaking TV spots next week." The new commercials "feature the hashtag #sportsrich and star Pooch Hall, an actor on Showtime's 'Ray Donovan.'" Unlike last fall, when the DFS operators "flooded TV networks with cash, spending will be more measured this NFL season." According to data from iSpot.tv, DraftKings has been "gearing up for the NFL season as well," spending $4M on TV ads in the past 30 days (N.Y. POST, 9/2).
WORK TO BE DONE: In Boston, Curt Woodward notes DraftKings did not "disclose the valuation" of the company following its most recent VC round. But a source said that DraftKings was valued "around" $1B. Other investors had already "reduced the value of their stakes in DraftKings, following months of legal troubles." The "most prominent" was Fox. The media outfit earlier this year said that its $160M investment in DraftKings had fallen by about 60%. Eilers Research Managing Dir Adam Krejcik said that while the new VC money is a "sign of the daily fantasy industry's health, it doesn't mean all of the questions about ... long-term viability have been answered" (BOSTON GLOBE, 9/2).
