DraftKings stock tumbled recently after legislators in Illinois passed a significant tax hike on sports betting businesses. It's unclear whether other states will follow suit.
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

05:00am, Thursday, 30'th May 2024
An increase in the tax rate will hurt DraftKings' business in one of its larger markets.

Where Will DraftKings Stock Be in 5 Years?

06:10am, Wednesday, 29'th May 2024
DraftKings is benefiting from more states legalizing online sports betting. The next stage of the company's growth will be from becoming more profitable.
The “math and checks suggest the reaction is overdone,” notes Jefferies on DKNG and FLUT reaction to the Illinois news. Jefferies views the Illinois tax as “relatively state-specific.
A new Illinois tax law pummels DraftKings stock. "IBD Live" explains.

Draftkings shares fall on gaming tax fears

03:10pm, Tuesday, 28'th May 2024
CNBC's Contessa Brewer joins 'Power Lunch' to discuss DraftKings shares falling and gaming stocks reaction to state tax hikes.
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 co

Signal: Buy the Dip on DraftKings Stock

02:05pm, Tuesday, 28'th May 2024
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

Why DraftKings Stock Just Crashed 13.5%

01:11pm, Tuesday, 28'th May 2024
Illinois is more than doubling the tax rate on online sports betting. DraftKings could face a 37% tax bill in 2025.
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 progres

Gaming stocks slip on new tax hike

11:31am, Tuesday, 28'th May 2024
CNBC's Contessa Brewer reports on news in the sports betting space.
Sports gaming stocks are falling as the Illinois Senate approves a higher tax on operators. Caroline Woods discusses this as this Illinois tax introduces a progressive tax rate for operators based on
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
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.
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