News & Analysis as of

Gambling

DraftKings and FanDuel Call Off Merger Following FTC Intervention

On July 13, 2017, daily fantasy sports providers DraftKings and FanDuel announced their decision to call off their proposed merger. Last month, the United States District Court for the District of Columbia issued a temporary...more

Gaming & Hospitality Legal News: Volume 10, Number 5

by Dickinson Wright on

Recreational Pot Comes to Nevada... But Why Are The Shelves Empty? On July 1, 2017, Nevada became the fifth state in the United States to legalize the sale of recreational marijuana. The epicenter of “what happens here,...more

FTC Temporarily Halts Proposed DraftKings-FanDuel Merger

On June 20, 2017, the United States District Court for the District of Columbia issued a temporary restraining order blocking the daily fantasy sports (DFS) companies DraftKings and FanDuel from consummating their proposed...more

U.S. Supreme Court Set to Address Sports Betting

On June 27, 2017, the United States Supreme Court agreed to hear a challenge to a law that prohibits individual states from permitting gambling based on professional or amateur sports....more

New German Anti-Money Laundering Act - impact on gambling operators

by DLA Piper on

On 26 June 2017 a new Anti-Money Laundering Act (AML Act or “Geldwäschegesetz” = GwG) entered into force in Germany. The new AML Act transposes the 4th AML Directive into German law. It has severe impacts on gambling...more

Of "Likes" and Luck: Social media and gaming regulations

by Dentons on

It is increasingly common for companies to organise marketing promotions using social media, perhaps, due to the ease and relatively low cost of doing so. It may come as a surprise to some, that such seemingly innocuous...more

Augmented and virtual reality - emerging legal implications of "The Final Platform"

by Reed Smith on

In August 2015, Time Magazine declared that Virtual Realty (“VR”) was about to change the world. A year earlier, Facebook bought Oculus VR for $2.3 billion signalling the impact of what Oculus founder Palmer Luckey referred...more

Vermont Becomes Second State to Legalize Daily Fantasy Sports in 2017

On Thursday, June 8th, Vermont Governor Phil Scott signed into a law a bill that legalizes and regulates the operation of paid-entry fantasy sports contests within the state. Vermont is at least the eleventh state to pass a...more

Gaming & Hospitality Legal News: Volume 10, Number 4: Nevada Passes New Law That Provides Flexibility for eSports Wagering

by Dickinson Wright on

The Nevada Legislature has just passed Senate Bill 240 (SB240). This bill clarifies that the pari-mutuel system of gaming may be used for events other than horse racing, dog racing, or sporting events. Pari-mutuel is a...more

At Stake

by Fox Rothschild LLP on

Happy Spring! The Illinois Gaming Board (IGB) held its monthly meeting on Thursday, May 25, 2017, in Chicago. We have provided a summary of both the Riverboat and Video Gaming Meetings below. Riverboat Meeting- The...more

News from Second and State

This week’s big news is not from the General Assembly, but from the Commonwealth’s judicial branch. Candidates in party primary elections squared off on Tuesday for a shot to run for positions on the Commonwealth, Superior...more

Horseracing-based Fantasy Sports Game Found Illegal

In a follow up to a lawsuit we previously reported on, a California District Court ruled on summary judgment that a horseracing-based fantasy sports game constitutes illegal wagering....more

Wealth Management Update - May 2017

by Proskauer Rose LLP on

May Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The May § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

What Foreign Investors Must Know About Japanese Casinos

Foreign investors interested in the hospitality and tourism sectors and related opportunities in real estate, retail and finance have welcomed legislation passed late last year in Japan to open the world’s third - largest...more

Insight: Patchwork of Daily Fantasy Sports Regulations Will Increase Costs and Frustrations for Emerging Industry

by Stinson Leonard Street on

Arkansas has become the most recent state to enact legislation aimed at regulating the Daily Fantasy Sports marketplace. Daily Fantasy Sports, or more commonly known as DFS, is a form of online entertainment where users play...more

At Stake

by Fox Rothschild LLP on

The Illinois Gaming Board (IGB) held its March monthly meeting on Friday, April 21, 2017, in Springfield. Riverboat -...more

Gambler Walters Loses in DOJ Insider Trading Trial

by Dorsey & Whitney LLP on

William “Billy” Walters rolled the dice against the Manhattan U.S. Attorney’s Office and lost in a high profile insider trading case. U.S. v. Davis, No. 1:16-cr-00338 (S.D.N.Y. Verdict April 7, 2017). Mr. Walters, a well...more

Gaming and Hospitality Legal News: Volume 10, Number 1, April 2017: Nevada Leads The Way On Esports Wagering

by Dickinson Wright on

Perhaps the hottest topic in gaming today is the growth of professional esports. Esports are – essentially – professional video game tournaments and contests. Audiences for such tournaments have been filling stadiums in Asia...more

Nevermind About Internet Cafes…

by Ifrah PLLC on

Jacksonville attorney Kelly Mathis got some good news this week: State prosecutors have decided not to retry him on more than one hundred charges for gambling-related offenses. The State brought the charges against Mathis and...more

Even In Nevada, “Get It Writing” May Not Be Far From The Mark

by Allen Matkins on

A recent ruling by U.S. District Court Magistrate George Foley, Jr. serves as a reminder the “get it in writing” tends to be good advice. The case involves a casino’s attempt to enforce a $3 million gaming debt incurred by...more

Is it a Gamble for Employers to Permit Office Pools During March Madness?

by FordHarrison on

The American Gaming Association estimates that Americans will bet a total of $10.4 billion on March Madness brackets, pools and contests this year, an increase of approximately 13% from last year. While estimates vary, some...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Budget Hearings Exceed 100 Hours and Counting - The Appropriations and Financial Affairs...more

Don’t bet the farm on March (legal) Madness

by McAfee & Taft on

March is upon us, which means spring is near and the sweet smell of tournament brackets will soon fill the air. For many, the month is synonymous with March Madness, the NCAA’s annual tournament that crown’s college...more

Is it a Lottery or is it Gambling? UK Regulator Slaps Lottoland for Misleading Radio Ad

by Ifrah PLLC on

Gambling, including online gaming, lotteries, and land-based gaming, has tremendous participation in the United Kingdom. One study concluded that 75% of the UK’s adult population gambled in some manner. UK regulators take...more

2016 Year in Review: Money Laundering (Part One)

by Ballard Spahr LLP on

2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more

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