Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation

Patriots Owner Robert Kraft Becomes Media Target in Casino Stock Ownership Investigation

New England Patriots owner Robert Kraft is the target of the new research posted to sports news siteDeadspinthat claims the billionaire is in violation for the National Football League’s (NFL) ownership policies due to his investment in a hedge investment.

New England Patriots owner Robert Kraft (seen here with President Donald Trump at an NFL game in 2012) is being accused by one reporter of violating the league’s ownership policy for keeping interests in Caesars.

Kraft, worth a projected $5.1 billion according toForbes, owns a stake that is smallby his criteria) in Apollo Global Management (AGM). Per SEC filings, the Kraft Group CEO holds 267,240 shares of AGM, a publicly traded business, presently valued at around $7 million.

Since Apollo presently keeps a 30 % stake in Caesars Entertainment, as well as positions in British betting house Ladbrokes and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch states Kraft is in breach associated with NFL’s gambling policy. The League strictly forbids owners from directly casinos that are owning gaming businesses.

In the Apollo internet site, the hedge fund says Kraft has been a director of its business since 2014. The billionaire is listed alongside nine other directors and executive officers.

‘Holding that position would appear to be a clear breach for the NFL’s gambling policy. While the policy enables for owners to have (more…)

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