Why DraftKings Stock Cratered and May Fall Further
Illinois increased its tax on online gaming revenue, which will be a big hit to DraftKings. Taxes are a huge threat to DraftKings' improving bottom line.
Massive News for DraftKings Stock Investors
An increase in the tax rate will hurt DraftKings' business in one of its larger markets.
Where Will DraftKings Stock Be in 5 Years?
DraftKings is benefiting from more states legalizing online sports betting. The next stage of the company's growth will be from becoming more profitable.
DraftKings Stock Hobbles To Worst Day Since 2022 On Illinois Tax Fears
Bets on sports betting giants came up short Tuesday, as shares of gambling market dominators DraftKings and FanDuel tanked as Illinois closed in on a significant increase on the tax rate facing the companies' operations in the state.
Signal: Buy the Dip on DraftKings Stock
The shares of sports betting company DraftKings Inc (NASDAQ:DKNG) are crumbling today, last seen 11.6% lower to trade at $36.09, after the Illinois Senate passed a 2025 budget that will raise taxes on gross gaming revenue raise by more than 140%.
Why DraftKings Stock Just Crashed 13.5%
Illinois is more than doubling the tax rate on online sports betting. DraftKings could face a 37% tax bill in 2025.
Sports-Betting Stocks Drop as Illinois Senate Passes Budget Raising Tax Scale
Sports-betting stocks like DraftKings (DKNG) and FanDuel parent Flutter Entertainment (FLUT) are sliding Tuesday following the Illinois Senate passage of a new state budget that includes a new progressive tax rate on such firms.
DraftKings (DKNG) Stock Falls as Illinois Senate Passes Sports Betting Tax
DraftKings (NASDAQ: DKNG ) stock fell 7% over the weekend after the Illinois Senate passed a hike to the state's sports betting tax. The Senate package is different from a bill already approved by the Illinois House.
DraftKings, FanDuel Stocks Blitzed By 140%+ Illinois Tax Hike
DraftKings stock and FanDuel-parent Flutter Entertainment both fell after the Illinois Senate advanced a budget that would more than double online sports betting taxes.
DraftKings and FanDuel Stocks Drop on Sports Betting Tax Hike
This new move would make Illinois the second most expensive state for online sports gambling companies to operate in.
DraftKings hit by Illinois sports betting bill
DraftKings Inc is down close to 10% in premarket on Tuesday after Illinois passed a legislation related to a sports-betting tax hike. Here's what Illinois legislation means for $DKNG Illinois will now impose the second highest tax on sports betting companies.
DraftKings and FanDuel parent hit by Illinois sports-tax legislation
Shares of DraftKings and FanDuel owner Flutter Entertainment traded lower on Tuesday after the Illinois Senate passed a bill that includes a sports-betting tax hike.
