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FanDuel antes up again for gambling initiative
The online gambling company FanDuel in November contributed another $4.38 million to an effort to pass a constitutional amendment that would broadly allow sports betting in Florida.
FanDuel made the contribution to the Florida Education Champions political committee, which is trying to put the proposed amendment on the November 2022 ballot.
FanDuel and DraftKings, Inc., have combined to spend more than $37 million on the initiative.
FanDuel has contributed $14.38 million, while DraftKings has contributed $22.71 million, according to a newly filed finance report.
Florida Education Champions had spent about $26.77 million as of Nov. 30 as it tries to meet a Feb. 1 deadline for submitting 891,589 valid petition signatures to the state.
As of Monday afternoon, the state had received 173,479 signatures for the initiative.
If ultimately approved by voters, the initiative would funnel taxes on sports betting to a state education trust fund.
Business Beat - Week of May 10th
