By J.D. Morris, Las Vegas Sun

Nevada regulators on Oct. 15 banned providers of daily fantasy sports, a booming but controversial industry that many argue is akin to gambling, from operating in the state until and unless they are licensed to do so.

Gaming Control Board Chairman A.G. Burnett wrote in a public notice that he and his staff have concluded that daily fantasy sports constitutes gambling under state law. Operators must possess a sportsbook license in order to legally offer daily fantasy sports in Nevada, Burnett wrote, because the industry requires its customers to wager on how well individuals collectively perform in sporting events.

In response to the gaming board’s notice, FanDuel and DraftKings, the two leading daily fantasy sports providers, announced Thursday night that they are ceasing operations in Nevada while they consider their options moving forward.

Read the whole story