FanDuel, DraftKings get OK to operate again in New York

Game on.

New York Gov. Anthony Cuomo signed legislation Wednesday, formally legalizing daily fantasy sports in the Empire State and handing the embattled industry its biggest win to date.

Fantasy operators, who were active in New York prior to Nov. 10, 2015, must receive a temporary permit from the New York Gaming Commission before re-opening for business. The process isn't expected to take long, and FanDuel and DraftKings, the two leading daily fantasy operators, expect to be up and running in New York before the NFL season kicks off in early September, if not sooner.

"Daily fantasy sports have proven to be popular in New York, but until now have operated with no supervision and no protections for players," Cuomo said in a release. "This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections, and more funding for education."

Cuomo's signature gives closure to a tenuous nine months for the industry that began with New York Attorney General Eric Schneiderman charging FanDuel and DraftKings with illegal gambling and attempt to shut them down. The sites eventually settled with the attorney general and in March stopped operating in New York, one of fantasy sports' largest revenue-producing states.

"This success in New York speaks to the strength and passion of our players who stood up and made their voices heard -- and their elected leaders responded," FanDuel CEONigel Eccles said Wednesday in a statement.

"On behalf of everyone at DraftKings, we look forward to welcoming New Yorkers back and are excited that fans in some of the greatest sports towns in the world will once again be playing the fantasy sports contests they love," DraftKings CEO Jason Robins said in his own statement.

On June 18th, in an extended and heated legislative session that lasted until 2 a.m., the New York Senate voted to pass the fantasy sports bill. Cuomo waited seven weeks to sign the bill, but it was well worth the wait for passionate fantasy supporters, who flooded lawmakers with emails, social media messages and phone calls.