Draft Kings and Fan Duel Agree to Stop Operating in One State
The two most popular daily fantasy sports companies, DraftKings and FanDuel, agreed to stop operating paid contests in New York, effective Monday, as part of agreement with the New York Attorney General’s Office.
“I’m pleased to announce that both FanDuel and DraftKings will stop taking bets in New York State, consistent with New York State law and the cease-and-desist orders my office issued at the outset of this matter,” the New York State attorney general, Eric T. Schneiderman, said.
Pursuant to the agreement, the companies agreed to immediately stop operating paid contests within the state pending the outcome of an appellate court decision on the legality of the games. The appeal will be heard in September.
Schneiderman has aggressively pursued legal action against the companies over the games that he called “nothing more than rebranding of sports betting” back in November.
Scheiderman said that he would drop the lawsuits if daily fantasy sports games are legalized within the state this year.
[h/t The New York Times; image via screengrab]