DraftKings Inc. Market Developments
DraftKings Inc., a daily fantasy sports contest and sports betting company, has experienced significant market developments. The company’s stock price has increased following Flutter’s announcement of a fee to offset state taxes in Illinois.
Potential Implementation of Surcharge
DraftKings is reportedly considering implementing a surcharge to mitigate the impact of tax hikes in various states. This move is in line with FanDuel’s strategy to offset state tax increases. Analysts suggest that DraftKings may follow a similar approach.
Leadership in Live Betting
According to Jefferies, DraftKings is emerging as a leader in live betting. The company’s stock price has been affected by these developments, with a notable increase in recent days.
Key Developments
- Flutter’s announcement of a fee to offset state taxes in Illinois
- DraftKings’ consideration of implementing a surcharge to mitigate tax hikes
- FanDuel’s strategy to offset state tax increases
- DraftKings’ emergence as a leader in live betting