DraftKings Inc. Receives Record Fine from Massachusetts Gaming Commission
DraftKings Inc., a daily fantasy sports contest and sports betting company, has been issued a record fine by the Massachusetts Gaming Commission. The fine, reported to be $450,000, is related to the company’s acceptance of credit card bets.
The fine has resulted in a decline in the company’s stock price, which has been under pressure in recent times. However, analysts have revised their price target for DraftKings, citing an improved growth outlook.
Key Developments:
- Record fine issued by the Massachusetts Gaming Commission
- Fine amount reported to be $450,000
- Decline in stock price following the fine
- Analysts revise price target, citing improved growth outlook
Additional Updates:
- DraftKings is close to reaching a settlement with the Major League Baseball union over a player likeness suit
- Settlement could be a positive development for the company