FanDuel Owner to Become Largest Gambling Company in $6 Billion Deal, Targets U.S. Sports Betting Market

Flutter Entertainment PLC, the owner of Paddy Power and FanDuel, announced a $6 billion deal to purchase The Stars Group Inc. (TSG) and become the world’s largest online gambling company. Flutter, an Irish gambling conglomerate, owns gambling websites Paddy Power and Betfair, in addition to sports betting websites FanDuel, Sportsbet, and TVG. Meanwhile, Canadian company TSG owns the world’s largest poker website, PokerStars, as well as BetStars and Full Tilt Poker. The combined value of the companies is approximately $12 billion. Further, the combined…
Continue reading...

NFL Officially Partners With DraftKings for Daily Fantasy

On September 26, 2019, the NFL announced that it has selected DraftKings to be its first official daily fantasy partner. Notably, this partnership deal does not include sports betting. In a joint statement, the companies stated that their partnership includes “exclusive sponsorship of the daily fantasy sports category with access to NFL branding and more.” NFL Chief Revenue Officer Renie Anderson said, “[d]aily fantasy football has been a tremendous vehicle for fans of all types to deepen their engagement with the NFL.” Over 11…
Continue reading...

Plaintiffs Win Big: NY Court Classifies Fantasy Sports Betting as Gambling

NY State Court Judge Connolly ruled on Monday that fantasy sports contests are gambling, thus rendering the state law legalizing their operation unconstitutional. The decision is a major blow to industry leaders like DraftKings Inc. and FanDuel Inc. However, the Justice noted that the decision fails to bind the lawmakers from excluding such contests from the penal law governing anti-gambling regulations. Plaintiffs brought the suit against Governor Cuomo and the NY State Gaming Commission opposing the law legalizing fantasy sports betting. The law originally legalized…
Continue reading...

CBS Interactive Inc. Sued for Trademark Infringement

On July 13, 2018, Fulltime Fantasy Sports, LLC (Fulltime) sued CBS Interactive Inc. (CBSi) for trademark infringement, false advertising, breach of contract, conversion, unlawful and deceptive practices, and unfair competition. According to the complaint, “[a]s fantasy football season approaches, Fulltime has been forced to file this action to seek relief from the Court’s so that CBSi will stop misappropriating Fulltime’s intellectual property and good will, stop confusing consumers, and pay Fulltime what it is owed.” Fulltime, founded in 2011, “provided premier fantasy sports content,…
Continue reading...

College Football Right of Publicity Lawsuit: Player Unions Support College Athletes in Fantasy Sports Suit

On January 25, 2018 the Sports and Entertainment Law Insider discussed a lawsuit filed by former NCAA football players, Akeem Daniels, Cameron Stingily, and Nicholas Stoner, who alleged that daily fantasy sports (DFS) providers had violated an Indiana state right-of-publicity statute when the DFS companies used names, images, likenesses, and statistics of student-athletes in online fantasy sports contests. In September 2017, the case was dismissed by the United States District Court based on a finding that the use of the names, images, and likenesses were…
Continue reading...

Five College Baseball Players Suspended for Involvement in Fantasy Sports

Student-athletes need to think twice before accepting their fantasy football league invitations this year. Five players from the University of Richmond’s baseball team have learned this lesson the hard way. The five effected players have begun the 2017 college baseball season suspended by the NCAA for their involvement in a fantasy football league. The NCAA rules state: “You are not eligible to compete if you knowingly participate in any sports wagering activity that involves intercollegiate, amateur or professional athletics, through a bookmaker, a parlay card…
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...