Schneiderman tightens the squeeze on DFS; Caesars’ Korean woes

SchneidermanIf you’re in New York State and lost money to FanDuel and DraftKings, you may be in line for a refund. At least that’s the case if Attorney General Eric Schneiderman has his way. He’s suing the two daily fantasy sports giants to refund losses to any Empire State player, with a $5,000 penalty per loser as a consolation prize. Schneiderman contends also that the DFS companies are using misleading advertising, hyping hundreds of dollars in bonuses that can only be gained by making thousands of dollars in wagers.

DraftKings and FanDuel say they don’t take wagers — but who are we kidding? — and DraftKings attorney David Boies added that the lawsuit showed “that the attorney general’s office still does not understand fantasy sports.” Boies and Schneiderman are locking horns in court today, as Schneiderman’s cease-and-desist order to DFS sites comes up for judicial review.

* Caesars Entertainment‘s domestic financial troubles may be dragging its expansion into South Korea down with it. Its partner in the $61 million project, Lippo Ltd., said that “uncertainties” raised questions over whether the casino resort would obtain a gaming license. According to Lippo, the parties involved in the land acquisition couldn’t arrive at a deal by the deadline. Although negotiations are continuing, “there is no assurance that such discussions and negotiations will result in any agreement, in which case the project will not proceed.” The government approved the Caesars-Lippo project last March but, in nine months, there has been no progress of which to speak.

* With his team 3-12 and hopelessly out of the playoff chase, Cleveland Browns quarterback Johnny Manziel evidently felt the appropriate thing to do was dine and gamble at Planet Hollywood, half a continent away. This may be a publicity coup for Caesars but let’s hope that Johnny Football’s concept of team spirit isn’t contagious.

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