NY Attorney General To Investigate Fantasy Websites

On Tuesday, October 6, 2015, New York Attorney General Eric Schneiderman began an investigation into DraftKings and FanDuel, the two largest daily fantasy sports websites. The investigation comes as a result of news that the two companies allow their employees, many of which have information not available to the public, to play each other and win large payouts. Schneiderman sent letters to the CEOs of both companies requesting the employee names and job titles, as well as other information, such as pricing algorithms. The letters…
Continue reading...

Massachusetts Attorney General To Review Legality of Fantasy Giant DraftKings

The legality of DraftKings Inc., a Boston-based fantasy sports website, will be reviewed by the attorney general of its home state. Massachusetts Attorney General Maura Healey, a well-known supporter of strict casino regulations, was asked about the legality of DraftKings during an interview with State House News Service. Healey told the News Service, “The point is this: This is a new industry. It’s something that we’re reviewing, and we’ll learn more about it.” While fantasy sports have been around for decades, daily fantasy websites,…
Continue reading...

Bittersweet Victory: DraftKings Reaches Deal With ESPN Without Any Equity Investment

On Wednesday, June 24, fantasy sports company DraftKings Inc. reached a promotional partnership with ESPN.  DraftKings had reportedly been in talks with Walt Disney Co., ESPN’s parent company, for an equity investment earlier this year.  According to the reports from April, Disney was close to investing $250 million into DraftKings, an amount that would value the company at roughly $900 million. Although neither company would discuss how much the ESPN marketing deal was actually worth, the agreement makes DraftKings the “official fantasy sports offering” on…
Continue reading...