Funding & Capital Raising
The Critical Role that Accelerators Play in Venture Financing

Seed capital provided by accelerators must be provided to startups with great care. Here are three ways accelerators can avoid causing long-lasting negative ramifications for startups.


Fantasy Sports & Gaming
Texas DFS Bill – H.B. 393

H.B. 393 seeks to legalize fantasy sports contests by amending the Texas Penal Code’s definition of “bet” to exclude prizes or awards won in a fantasy sports contest. The language is mostly consistent carve-out language but there are two key additions which could have a material effect on contests currently being offered in the state.


Fantasy Sports & Gaming
Texas Sports Betting Bill – H.B. 1121

A recent bill authorized by Representative Harold Dutton of Houston on January 12, 2021 seeks to legalize sports betting in Texas. The bill aims to allow authorized permit holders to offer sports betting through their designated electronic platforms.


Sports & Gaming
Texas Amendment Would Open Door For Commercial Casinos

On February 8, 2021, San Antonio Democratic Senator Roland Gutierrez filed Senate Joint Resolution 36 (SJR 36 or hereafter, the “Amendment”) in an effort to amend the Texas Constitution and thus pave the way for commercial casinos in Texas. If […]


Name, Image, Likeness
The Name, Image, and Likeness Legal and NCAA Regulatory Landscape

The purpose of this article is to summarize the name, image, and likeness legal landscape, and the rights athletes would have to commercialize their right of publicity depending on what is ultimately legislated.


Name, Image, Likeness
NAIA Passes Name, Image, and Likeness Legislation

As college athletics awaits the NCAA’s proposed modifications to its name, image, and likeness legislation, the NAIA has become the first intercollegiate athletics governing body to pass legislation permitting athletes compensation for the use of their name, image, and likeness. […]


M&A
Add-On Acquisitions in Lower Middle Market Private Equity

While the second quarter of 2020 continued a COVID-propelled downward trend in M&A deal activity, there was a sharp increase in the proportion of sponsor-backed “add-on” acquisitions relative to overall deal volume.


Fantasy Sports & Gaming
IRS States That DFS Operators Are Liable For Excise Tax

A recent IRS Internal Memorandum has ruled that DFS operators must pay federal excise taxes on entry fees, a viewpoint that, if enforced, could have widespread effects on the fantasy industry.