NEW YORK — Vantiv Inc, one of the largest companies to process payments for daily fantasy sports companies, will pull out of the sector as an increasing number of states have declared the games illegal, the New York Times reported on Friday.
Vantiv lawyer Jonathan Ellman sent the company's daily fantasy sports clients a letter saying it would stop processing their wagers and payouts at the end of February, the Times said.
Vantiv could not be immediately reached for comment. Spokespersons for daily fantasy sports market leaders DraftKings and FanDuel were also not immediately available.
PayPal Holdings Inc said it was still processing payments to daily fantasy sports companies.