Irish-owned US gambling company FanDuel has contributed millions of additional dollars to a lobbying group seeking to influence the outcome of America’s upcoming midterm elections, injecting a further $7.5 million into the Super PAC (political action committee) Win for America.
FanDuel Donates $7.5M to Win for America
According to new filings with the US Federal Election Commission, contributions by FanDuel, which is part of Ireland-based Flutter Entertainment, to the Win for America Super PAC have now reached $27 million. Between January and March this year, FanDuel contributed $19.5 million to the Super PAC. The latest filings show the company made two further contributions: $3.5 million on May 1 and $4 million on May 26.
FanDuel’s donations come as the company has recorded several years of aggressive expansion in the US. According to Flutter Entertainment’s chief executive Peter Jackson, it’s expected that FanDuel will generate approximately $7.8 billion in revenue this year, with adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of around $1.05 billion. This compares to revenue of $6.97 billion and adjusted EBITDA of $920 million in the previous year.
Where Does Win for America Send the Money?
Win for America is working on behalf of gambling companies to support congressional candidates it believes will take a measured approach to regulating the industry. Unlike traditional campaign committees, Super PACs can accept unlimited donations but are prohibited from donating directly to federal candidates.
However, they can influence elections by funding advertising campaigns that support or oppose candidates and their policy positions. Win for America has distributed more than $68 million of the funds it has received from FanDuel and other gambling companies, which include the likes of Bet365, DraftKings, and Fanatics Betting and Gaming.
Most of that money has gone to the American Conservative Fund, which has received a total of $50.1 million. American Conservative Fund is a political committee that says it exists to “stand up against the Radical Left” and describes itself as being “committed to electing dependable Conservatives across the country.”
That being said, it seems Win for America isn’t supporting just right-leaning political entities. The PAC has also contributed $16 million to the Dallas-based Democratic PAC called American Future.
In other news about FanDuel, its co-founder Nigel Eccles recently scored an important victory in an ongoing legal battle.