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

New England Patriots owner Robert Kraft is the target of the new investigation posted to sports news siteDeadspinthat claims the billionaire is in violation associated with 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, well worth a projected $5.1 billion according toForbes, has a small stake (by his criteria) in Apollo Global Management (AGM). Per SEC filings, the Kraft Group CEO holds 267,240 shares of AGM, a publicly traded business, currently valued at around $7 million.

Since Apollo presently retains a 30 % stake in Caesars Entertainment, since well as positions in UK house that is betting and casino games maker American Gaming Systems,Deadspinauthor Bart Hubbuch says Kraft is in breach regarding the NFL’s gambling policy. The League strictly forbids owners from directly owning casinos or 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 officers that are executive.

‘Holding that position would seem to be a violation that is clear of NFL’s gambling policy. While the policy permits for owne