A sign hangs on the wall in the reception area at Fanduel Inc.'s offices in Edinburgh, U.K., on Tuesday, Feb. 7, 2017. Flutter reported phenomenal second-quarter earnings this week, wowing investors and sending shares up about 8% Wednesday as the company's FanDuel betting platform captures market share and grows revenue dramatically, even in well established states with sports betting and online gaming. But it was the declaration that FanDuel will not add a surcharge to offset an Illinois tax hike that grab ...

LOS ANGELES, Aug. 14, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or "the Company") (NASDAQ: DKNG) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DraftKings issued a press release announcing its financial results for the sec ...

These companies still offer plenty of long-term upside for investors. The recent dip in the market indexes erased half the year's gains year to date, with the S&P 500 index up 9% on the year. But investors can take advantage of the sell-off to get better value on select companies with excellent growth prospects. Here's why three Motley Fool contributors believe DraftKings (DKNG -0.66%), Lyft (LYFT -3.08%), and Roku (ROKU -0.92%) are great stocks to buy right now. The momentum in online sports betting is rea ...

The market opportunity for DraftKings is growing rapidly, and the company has a market leader advantage. I'd be putting it lightly if I said it has been a roller coaster ride for DraftKings' (DKNG -3.95%) stock since its July 2019 initial public offering (IPO). After its IPO, the stock surged by over 600% in less than two years, and now it sits around 55% below its peak. Despite the ups and downs (which is normal for young growth stocks), I still believe in DraftKings' long-term potential. The business is s ...

If taxes go up on online gaming there's not a lot DraftKings can do about it. DraftKings (DKNG -3.95%) continues to grow like crazy and the business is becoming more efficient as it scales. But there's a huge drag on profitability from taxes, which could become an ongoing challenge. In this video, Travis Hoium shows why taxes on online gaming will be a headwind DraftKings may not be able to overcome. *Stock prices used were end-of-day prices of Aug. 6, 2024. The video was published on Aug. 6, 2024. ...

The widespread legalization of sports betting is breathing new life into the Paris 2024 Olympics. Earnings season is shining a light on the sector as well, with DraftKings Inc (NASDAQ:DKNG) fresh off the confessional, and competitor PENN Entertainment Inc (NASDAQ:PENN) set to announce its own quarterly results before the open tomorrow. DKNG was last seen 0.8% higher to trade at $31.64, enjoying some broader-market tailwinds after the company on Monday reported a surprise profit for the second quarter, while ...

Shares of DraftKings (DKNG) tumbled Friday after the online sports gambling platform cut its profit forecast and announced it would put a surcharge on winnings for bettors in high-tax states as a way to boost earnings. In a letter to shareholders, the company said that several states, notably Illinois, have put a high tax rate on gambling winnings. To address that, DraftKings said it plans to implement "a gaming tax surcharge on a customer's Net Winnings in any state with a tax rate above 20% that has multi ...

The sports gaming industry is at a crossroads, with technological innovation, regulatory changes, and consumer habits all combining to drive rapid evolution. And all three of those themes were central to executive commentary during DraftKings' second-quarter 2024 earnings call Friday (Aug. 2). "We very efficiently acquired many more new customers than we expected and saw continued healthy existing customer engagement in the second quarter," DraftKings Chief Executive Officer and Co-founder Jason Robins said ...

DraftKings (NASDAQ:DKNG) caught DKNG stock investors off guard on Friday when the sports betting company announced a new gaming tax surcharge in its latest earnings report. During that report, DraftKings cofounder and CEO Jason Robins revealed plans to implement a gaming tax surcharge. He said this would be for states with high taxes that already have several mobile sports betting operators. According to Robins, this gaming tax surcharge won't go into effect until the start of 2025. He claims it could bring ...

Shares of DraftKings Inc DKNG tanked in early trading on Friday, after the company reported its secondquarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways. Benchmark analyst Mike Hickey reaffirmed a Buy rating, while cutting the price target to $41. Truist Securities analyst Barry Jonas maintained a Buy rating and price target of $53. JMP Securities analyst Jordan Bender reiterated a Market Outperform rating and price target of $52. Goldman Sachs analyst Be ...