BREAKING NEWS: A New York appellate court on Friday ruled to allow beleaguered daily fantasy sports company DraftKings to continue operating in New York just hours after a state court judge had granted a preliminary injunction sought by the New York attorney general to shutter DraftKings and its competitor FanDuel.

The New York Supreme Court Appellate Division granted DraftKings Inc. an immediate stay of the preliminary injunction issued Friday morning, according to DraftKings’ attorney David Boies of Boies Schiller & Flexner LLP.

The ruling will enable the company to continue operating in New York, which it intends to do, while it fights the legal action by New York Attorney General Eric Schneiderman alleging its daily fantasy sports, or DFS, contests are a form of illegal gambling under state law.

We will have more as the news continues to develop, but this is considered a huge win in the long running battle between the DFS sites and Schneiderman.

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