The legislation comes after Attorney General Eric Schneiderman filed a legal challenge against major
fantasy sports operators in New York, charging they were running games of chance, illegal under the state's constitution.
Not exact matches
Last month, Nevada's Gaming Control Board ruled that daily
fantasy sports operators (including Yahoo and all the smaller players too) are gambling
operators and that, as such, they must obtain gambling licenses to continue offering paid contests
in the state.
It was a major threat to the future of the exploding daily
fantasy sports industry, and it led a number of smaller daily
fantasy sports operators, who were not sent any letter from Schneiderman, to promptly cease business
in New York.
With lobbyists working
in dozens of states, the efforts by leading daily
fantasy sports (DFS)
operators — most notably DraftKings and FanDuel — to clarify the legal status of their game have resulted
in some successes across the country.
State lawmakers
in June approved legislation that regulates and legalizes
fantasy sports in New York after Attorney General Eric Schneiderman challenged the legality of the activity, forcing major
operators to suspend business
in the state.
Schneiderman last year filed a legal challenge to major
fantasy sports operators, arguing the companies
in New York act as «games of chance» — outlawed under the state's Constitution.
«As the newly enacted law requires, the Commission regulates all aspects of interactive
fantasy sports, including ensuring the
operators put important consumer protections
in place,» said Commission Executive Director Robert Williams.
Garcia, 54 years old, is a partner at a Manhattan law firm and leads an advisory board for
fantasy -
sports operator FanDuel, which is facing intense legal scrutiny nationwide — including
in New York.
Mr. Garcia, 54 years old, is a partner at a Manhattan law firm and leads an advisory board for
fantasy -
sports operator FanDuel, which is facing intense legal scrutiny nationwide, including
in New York.
DraftKings, FanDuel and three other daily
fantasy sports operators were cleared to resume business
in New York yesterday, just
in time for the approaching NFL season and Major League Baseball playoffs.
After
fantasy sports operators DraftKings and FanDuel announced they would no longer operate
in New York following a legal dispute with Attorney General Eric Schneiderman, some lawmakers now are talking of regulating the activity
in the budget and gain some revenue
in the process.
But, as online
sports wagering is regulated
in Australia, the legal environment for daily
fantasy sports operators here has been far less complex.