FanDuel Announces Creation of New Advisory Board

With all of the scrutiny surrounding the daily fantasy sports industry, FanDuel has taken steps to create a new advisory board, which will develop policy recommendations and present them to the company. The board, which former United States Attorney for the Southern District of New York, Michael Garcia, is a part of, will research and develop recommendations to address the ever changing government and regulatory issues. Additional advisory board members include: · Tom Ridge, former Governor of Pennsylvania and Secretary of the United States Department of Homeland Security, Chairman of Ridge Global; · Terdema Ussery, former president and CEO of the Dallas Mavericks; and · Tim Brosnan, former Major League Baseball Executive Vice President of Business. Nigel Eccles, chief executive officer of FanDuel said, "The advisory board is an important step to best position FanDuel for continued growth, demonstrate our commitment to providing users a great experience and guide our work with regulators and lawmakers moving forward.” Former federal judge and United States Attorney General Michael Mukasey will manage an internal review of FanDuel's current policies and procedures as it relates to the safety and security of its competitions plus provide recommendations for improvements where appropriate. These actions are the result of both market leading daily fantasy sports companies, FanDuel and DraftKings, being presented with a cease-and-desist order from New York Attorney General Eric Schneiderman. His opinion is that the DFS industry is based on illegal gambling, a topic that will have its day in court in addition to several class-action lawsuits filed against both companies.