DraftKings Stock News

DraftKings (DKNG 1.51%) stock investors were dealt some unfavorable news regarding state taxation of gaming revenue.

Shares of several sports betting companies dropped Monday after lawmakers in Illinois passed a state budget that includes a new tax on the industry.

DraftKings stock, FanDuel parent Flutter Entertainment and other sportsbook operators fall after Illinois advances betting tax.

Shares of online sports betting platforms struggled Monday. Illinois lawmakers passed a budget that included what one analyst described as a surprise tax increase on wagers.

Eliminating transaction fees and enabling $100 investments highlights the inclusive evolution of modern investing platforms.

SailGP is providing real-time odds to gaming platfoms to allow users to place bets SailGP's sports betting push is part of a broader strategic plan to attract new fans, drive deeper engagement and grow the league's popularity

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During an earnings season where analysts expected many companies to lower guidance, darling gambling stock DraftKings NASDAQ: DKNG was one that had to do just that. Even as shares are down nearly 34% from their all-time high reached in February as of the May 21 close, DraftKings stock is still up more than 150% over the past three years.