DraftKings is mad as hell and isn’t going to take it anymore; a minimum of relating to the brand new $.50 per wager tax that’s set to get into impact in Illinois this fall. The sports activities betting big is responding to the tax hike with the formation of a Political Motion Committee (PAC) with the very artistic title – the DraftKings Inc. Political Motion Committee.
PACs, and extra particularly Company PACs just like the one DraftKings is forming, are a method for people and companies to affect US politics. Not solely will a PAC foyer particular person members of the US Congress, they’ll additionally donate as much as $5,000 to people operating for workplace every election cycle. A Company PAC is important as a result of companies are required to separate company funds from these used to assist politicians.
The DraftKings Inc. PAC will probably be headed up by DraftKings Senior Director of Federal Affairs Lauren Pfingstag Vahey with the assistance of Senior VP & Deputy Basic Counsel Griffin Finan. Although the PAC is principally there to struggle the Illinois tax, it is going to be primarily based in Fairfax, Virginia.
A DraftKings spokesperson defined the reasoning behind the PAC to SBC Americas saying, “The current tax improve in Illinois makes it more durable to supply the very best service to our gamers whereas it concurrently incentivizes extra gamers to wager within the unregulated, unlawful market.
“Amongst different issues, we’re monitoring a variety of regulatory, tax, and licensing insurance policies across the nation, together with the current tax improve in Illinois. As well as, DraftKings might prioritize points that influence enterprise operations, together with the enlargement of the authorized, regulated on-line betting market,” he added.
DraftKings is hardly the primary gaming operator to stroll this path of political affect. MGM Resorts, Caesars Leisure and the American Gaming Affiliation all have Company PACs advocating for his or her pursuits.
