Daily fantasy sports firms DraftKings and FanDuel took their case to New York State lawmakers yesterday, appearing at a hearing convened by a consortium of Assembly committees. The DFS providers said they’d accept regulation but stopped well short of outlining just what would constitute fair oversight in their mind. Fantasy Sports Trade Association Chairman Peter Schoenke‘s call for “boundaries so these games are fair to everyone.” seems to be as specific as things got.
The one clear, bright line that was drawn was Assembly Racing & Wagering Committee Chairman Gary Pretlow‘s statement that the legality of DFS was the province of the judiciary and that lawmakers were there to find out how the industry works. Indeed, they seemed as much in the dark on that matter as the DFS proponents were vague about regulation. The one exception was Assemblyman Dean Murray (R), who plays DFS in his spare time and called it “nothing more than day trading for sports fans.”
Strangely, state Attorney General Eric Schneiderman declined an invitation to speak at the hearing, leaving the “con” argument to be made mainly by anti-gambling groups … hardly a segment you would expect to approve any form of DFS. Stop Predatory Gambling‘s Les Bernal was clearly panicked that New York solons were rooting around for a new form of taxable revenue, saying, “This is a ‘Hail Mary’ investment strategy perpetuated by state government, and it’s wrong.”
* It only took two decades of waiting (bisected by Hurricane Katrina) but D’Iberville, Mississippi finally has its own casino, the Scarlet Pearl Casino, which opens today. In addition to 1,350 slot machines, 45 table games and 36 holes of miniature golf, the Scarlet Pearl has its own volcano, just like The Mirage. (Well, sorta.) Congratulations to D’Iberville for sticking it out and finally getting a casino to call its own.
