Market Chatter: DraftKings Exploring Options Following Illinois Sports Betting Tax Increase

MT Newswires Live

Jun 11

DraftKings (DKNG) is evaluating potential actions after a recent tax increase in Illinois, Bloomberg reported Tuesday, citing an emailed statement from the company.

The state's new budget taxes $0.25 per bet for the first 20 million online sports bets made annually, increasing to $0.50 per bet after that threshold.

"In response to the recent and prior mobile sports wagering tax increases in Illinois, DraftKings anticipates taking action and expects to share more information soon," the company reportedly said in a statement.

Flutter Entertainment (FLUT) said Tuesday that it will implement a $0.50 transaction fee on FanDuel bets in Illinois, effective Sept. 1, to offset the tax increase.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 37.01, Change: +0.81, Percent Change: +2.24

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p><p>Price: 37.01, Change: +0.81, Percent Change: +2.24</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DKNG","symbol_name":"DraftKings Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2542341778","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2542341778","pubTimestamp":1749577725,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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