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    Antitrust Law Daily Wrap Up, STATE UNFAIR TRADE PRACTICES NEWS: Yahoo Daily Fantasy Sports agrees to halt games in New York, (Mar 22, 2016)

    Organizations Mentioned:DraftKings, Inc. | FanDuel | FanDuel Inc. | Yahoo Daily Fantasy Sports

    By John W. Arden, J.D., LL.M.

    A day after DraftKings and FanDual agreed to suspend gaming within the State of New York—until state gambling laws are changed or a court rules in their favor—Yahoo Daily Fantasy Sports has followed suit, according to New York Attorney ...

    By John W. Arden, J.D., LL.M.

    A day after DraftKings and FanDual agreed to suspend gaming within the State of New York—until state gambling laws are changed or a court rules in their favor—Yahoo Daily Fantasy Sports has followed suit, according to New York Attorney General Eric T. Schneiderman.

    “Following yesterday’s announcement that FanDual and DraftKings will follow the law and stop taking bets in New York State, Yahoo has now informed my office that it will do the same,” Schneiderman stated today. “New York law has long prohibited sports wagering, including betting on daily fantasy sports. As long as that is the case, I will continue to enforce the law vigorously, and I am glad these companies have agreed to follow it.”

    Schneiderman’s office had opened an investigation into DraftKings and FanDuel in October 2015, concluding that both companies’ operations constituted illegal gambling under New York law. Cease and desist letters were sent to both operations in November, claiming that the companies’ advertisements seriously misled New York citizens concerning their prospects of winning. The Attorney General subsequently filed suit against DraftKings and FanDuel alleging violations of the New York General Business Laws §§349 and 350 for deceptive acts and practices and false advertising.

    A state trial court entered a preliminary injunction against the operations, which was stayed by the New York Supreme Court, Appellate Division in January 2016. The stay allowed the fantasy sites to do business in New York while the legal proceedings continued.

    In yesterday’s provisional settlement agreements, DraftKings and FanDuel agreed to block potential game participants located in the State of New York, based on geo-blocking and/or Internet Protocol addresses, from entering daily fantasy sports contests involving an entry fee. The sites also agreed to promptly process requests from New York users to withdraw their account balances.

    Companies: Yahoo Daily Fantasy Sports; DraftKings, Inc.; FanDuel Inc.

    News: Advertising StateUnfairTradePractices NewYorkNews

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