DraftKings (DKNG) and FanDuel-parent Flutter Entertainment (FLUT) face a 140% hike in taxes on online sports bets in a new budget approved by the Illinois Senate over the weekend. Both DKNG and FLUT fell in early Tuesday stock market action, extending losses late last week. X Online Sports Betting Tax Hike In a Tuesday analyst note, BTIG said it expects DKNG and FLUT to pay 36% and 37% tax rates, respectively, on gross gaming revenue under the state's 2025 budget. That would amount to a tax hike of 140% to ...

"The completion of the acquisition represents an exciting new chapter for Jackpocket and DraftKings alike," said Peter Sullivan, CEO of Jackpocket. "Together, we are confident that we will be even more capable of helping lotteries fulfill their mission of delivering revenue back to the beneficiaries they support. DraftKings' proven reach and cutting-edge mobile platforms will continue to allow us to drive growth and innovation in the digital lottery vertical." With the acquisition now complete, DraftKings i ...

BOSTON & NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") today announced the completion of its previously announced proposed acquisition of Jackpocket Inc. ("Jackpocket"), the leading digital lottery app in the United States. "Today we are announcing the completion of our acquisition of Jackpocket, and the commencement of our value creation plan," said Jason Robins, CEO and Co-founder of DraftKings. "We are well-prepared to quickly launch cross-sell ...

DraftKings (DKNG) has been choppy since its Mar. 27 two-year high of $49.57, with 2.8% post-earnings bear gap on May 3 not helping matters. Last seen down 3.3% to trade at $42.42 and on track for a fourth loss in the last five days, the silver lining is that this pullback has the stock near a historically bullish trendline. DKNG has come within one standard deviation of its 80-day moving average, defined for this study as having traded north of this trendline 80% of the time in the past two months, and in e ...

Worry less about these stocks' recent action, and focus more on the strength of their underlying businesses. Given the choice, most investors prefer buying stocks on a dip rather than during (or after) a rally. Why pay more when you can pay less? Paying less means more eventual profits. Sometimes, though, it's worth jumping into a stock while it's on the way up. There may not be a pullback coming anytime soon. Waiting could end up being costly instead of helpful. With that as the backdrop, here's a closer l ...

Beginner investors are always worried about spending too much or too little in the stock market. Some want to start slow and watch their investments while others want to go all in and reap significant gains. However, the stock market cannot be timed, and no crystal ball can help us either. The trick is to identify undervalued stocks that can become portfolio game-changers in the long term. If you are starting your investment journey with a limited amount, consider three stocks to buy under $100 for signific ...

Quite often we read about societal pressures that have driven the increased use of everything from narcotics to gambling to even the reemergence of nicotine and tobacco. Unfortunately, with many of the economic difficulties of the 21st century, young people, now more than ever, rely on substances and thrills to get through the day. All this may be generally unhealthy for the public. It has led to the emergence of some sin stocks to buy before their products become even more widespread. While individual inve ...

DraftKings (DKNG) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Over the past month, shares of this company have returned +9.3%, compared to the Zacks S&P 500 composite's +5% change. During this period, the Zacks Gaming industry, which DraftKings falls in, has lost 1.2%. The key question now is: What could be the stock's future direction? While media releases or rumors about a subst ...

As earnings season winds down, the long-awaited shift from growth to value seems to be emerging. Many tech stocks are down despite good earnings as investors hunt for bargains. That’s a good reason to explore undervalued stocks under $50. To begin with, investors like stocks under $50 because they can make a small investment go further. But, there’s a difference between price and value. Some stocks under $50 don’t have much upside left for investors. And if they don’t pay a dividend, you can find better opt ...

DraftKings Inc. (NASDAQ:DKNG) Q1 2023 Earnings Conference Call May 3, 2024 8:30 AM ET Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder and Chief Executive Officer Alan Ellingson - Chief Financial Officer Shaun Kelley - BofA Stephen Grambling - Morgan Stanley Joe Greff - JPMorgan Ben Miller - Goldman Sachs Robin Farley - UBS Carlo Santarelli - Deutsche Bank Clark Lampen - BTIG Joe Stauff - Susquehanna Robert Fishman - MoffettNathanson Ara Masias - Jefferies Michael Graham - Canaccord Genuity Ben ...