Reported 1 day ago
DraftKings Inc. has announced a $0.50 transaction fee on all bets placed in Illinois starting September 1, 2025, to address the new betting transaction tax introduced by the state legislature. Jefferies analyst David Katz believes this move could set a precedent within the industry and has maintained a Buy rating on DraftKings, with a price target of $60. CEO Jason Robins expressed disappointment over the state’s increasing tax rates but indicated readiness to rescind the fee if the tax legislation is revoked.
Source: YAHOO