NY Judge Shuts Down Daily Fantasy Sports In State; Companies To Appeal
Source: Reuters
A New York judge on Friday ruled that the leading daily fantasy sports companies FanDuel and DraftKings must cease operating in the state, in what could be a crippling blow to the fast-growing, multibillion-dollar industry.
New York Supreme Court Justice Manuel Mendez granted an injunction sought by Attorney General Eric Schneiderman after hearing arguments last month over whether daily fantasy sports games amounted to illegal games of chance or lawful ones involving skill.
The injunction is not the final determination on the ultimate issues of the case, which will be heard in a trial. Both companies - the two market leaders in daily fantasy sports - said they plan to appeal the ruling.
"The balancing of the equities are in favor of the NYAG and the state of New York due to their interest in protecting the public, particularly those with gambling addictions," Judge Mendez wrote.
Read more: http://www.reuters.com/article/us-fantasysports-new-york-idUSKBN0TU1UA20151211#vxuepB0MvBZg753a.97
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Heinz_Golderian
(11 posts)the state of NY gets it 'fair' cut, of course...
Purveyor
(29,876 posts)Brent Schrotenboer and A.J. Perez, USA TODAY Sports 5:48 p.m. EST December 11, 2015
FanDuel and DraftKings are back in business in New York state -- at least for now.
After a New York Supreme Court justice ordered them shut down Friday morning, the companies immediately appealed and sought an emergency stay to be in effect until their appeal is decided. A New York appellate judge granted them that stay Friday afternoon, allowing the companies to operate in New York until at least the first week of January.
A panel of New York appellate judges then will rule if the stay should be lifted or remain in effect until their appeal is heard on the preliminary injunction issued Friday morning by New York Supreme Court Justice Manuel Mendez.
"We look forward to demonstrating to the appellate division why they should uphold today’s decision to grant a preliminary injunction barring DraftKings and FanDuel from continuing their illegal gambling operations in New York."said Damien LaVera, spokesman for New York Attorney General Eric T. Schneiderman.
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http://www.usatoday.com/story/sports/fantasy/2015/12/11/new-york-draftkings-fanduel-daily-fantasy-stay/77170664/
