published on March 22, 2016 - 6:34 AM
Written by The Business Journal Staff

(AP) — Internet giant Yahoo says it will suspend its paid daily fantasy sports operations in New York.

In doing so, the Sunnyvale, California-based company joins fantasy sports giants DraftKings and FanDuel.

New York Attorney General Eric Schneiderman said Tuesday that his office will continue to enforce bans on sports wagering.

The announcement comes a day after a deal between the companies and Schneiderman effectively suspended litigation while lawmakers draft regulations.

Schneiderman sued the companies, arguing the popular online contests are actually illegal gambling operations.

The companies contend the games are skill-based.

Key state legislators have indicated a bill to prevent minors from playing and to incorporate taxes and licensing could pass by mid-May.

Yahoo says it believes its games are legal. Paid games will be suspended Wednesday.

e-Newsletter Signup

Our Weekly Poll

Do you believe "quiet quitting" is a problem in your workplace?
62 votes

Central Valley Biz Blogs

. . .