Tags: Daily Fantasy Sports | New York | Fan Duel | Draft Kings

Daily Fantasy Sites Back in Business in NY After Appeal

Image: Daily Fantasy Sites Back in Business in NY After Appeal

Friday, 11 Dec 2015 04:44 PM

DraftKings and FanDuel can continue doing business in New York for now, after an appeals court halted a judge’s order that blocked daily fantasy games in the state.

An appeals court judge allowed the companies to keep operating until additional judges have a chance to rule on the ban.

In a seesaw contest of legal rulings, a trial court judge ruled Friday morning that the companies must temporarily close while they fight to prove they should not be banned under gambling laws.

That decision, sought by Attorney General Eric Schneiderman, potentially choked off the sites’ largest market and threatened the future of companies that as recently as September boasted valuations of more than $1 billion.

Hours later, appellate judge Paul Feinman -- hearing an emergency challenge to the ruling -- said the companies could keep doing business in the state for now. FanDuel and DraftKings have said they would be irreparably harmed if forced to close even temporarily in New York.

DraftKings and FanDuel stand to lose an estimated $35 million in combined annual revenue without New York, which accounts for 13 percent of the nation’s fantasy sports market, according to Eilers Research data.


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DraftKings and FanDuel can continue doing business in New York for now, after an appeals court halted a judge's order that blocked daily fantasy games in the state.
Daily Fantasy Sports, New York, Fan Duel, Draft Kings
194
2015-44-11
Friday, 11 Dec 2015 04:44 PM
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