FanDuel and DraftKings to leave New York state

5 Stunning stats about daily fantasy sports

DraftKings and FanDuel are leaving New York.

The state’s attorney general, Eric Schneiderman, said Monday he reached a deal with the daily fantasy sports sites and they will “stop taking bets in New York State.

More information on the deal is expected to come at a 2 pm ET press conference.

A deal barring DraftKings and FanDuel from New York is a major victory for Schneiderman.

In December, a judge granted DraftKings and FanDuel permission to continue operating in New York while the companies’ legal proceedings continue.

It was not immediately clear whether FanDuel and DraftKings plan to leave the state indefinitely or whether they will continue to fight the ban in court. Neither company could be reached for comment.

Schneiderman wants to oust the sites from New York state, arguing that they violate gambling laws. He says fantasy sports sites that operate daily games are based on luck instead of strategy like a season-long fantasy sports game.

He launched a probe into the companies in October, 2015, following rumors that employees at fantasy sports sites were profiting from inside information.

Yahoo (YHOO, Tech30) was never told to cease operations, but Schneiderman included its daily fantasy sports operations in his investigation.


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