Key TakeawaysShares of sports-betting companies like DraftKings and FanDuel parent Flutter Entertainment are falling Tuesday.Markets are reacting to a state budget passed by the Illinois Senate Sunday night, which included a new progressive tax rate up to 40% on sports-betting companies.DraftKings, FanDuel, and other sports-betting companies have said higher tax rates will lead to worse odds and fewer promotions for customers. Sports-betting stocks like DraftKings (DKNG) and FanDuel parent Flutter Entertain ...

DraftKings (NASDAQ:DKNG) stock fell 7% over the weekend after the Illinois Senate passed a hike to the state’s sports betting tax.The Senate package is different from a bill already approved by the Illinois House. The two proposals must be reconciled before they can be signed.The bill hikes the state tax on gross revenue to 40%, trailing only New York’s 51% rate. Operators have been paying a 15% tax since sports betting went live there in 2021. Gov. Jay Pritzker had asked for a hike to 35%. DKNG stock opene ...

DraftKings (DKNG) and FanDuel-parent Flutter Entertainment (FLUT) face a 140% hike in taxes on online sports bets in a new budget approved by the Illinois Senate over the weekend. Both DKNG and FLUT fell in early Tuesday stock market action, extending losses late last week.X Online Sports Betting Tax HikeIn a Tuesday analyst note, BTIG said it expects DKNG and FLUT to pay 36% and 37% tax rates, respectively, on gross gaming revenue under the state's 2025 budget. That would amount to a tax hike of 140% to 14 ...

BOSTON & NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- DraftKings Inc. (NASDAQ:DKNG) ("DraftKings" or the "Company") today announced the completion of its previously announced proposed acquisition of Jackpocket Inc. ("Jackpocket"), the leading digital lottery app in the United States. "Today we are announcing the completion of our acquisition of Jackpocket, and the commencement of our value creation plan," said Jason Robins, CEO and Co-founder of DraftKings. "We are well-prepared to quickly launch cross-sell p ...

BOSTON & NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced the completion of its previously announced proposed acquisition of Jackpocket Inc. (“Jackpocket”), the leading digital lottery app in the United States. “Today we are announcing the completion of our acquisition of Jackpocket, and the commencement of our value creation plan,” said Jason Robins, CEO and Co-founder of DraftKings. “We are well-prepared to quickly launch cross-sell ...

DraftKings (DKNG) has been choppy since its Mar. 27 two-year high of $49.57, with 2.8% post-earnings bear gap on May 3 not helping matters. Last seen down 3.3% to trade at $42.42 and on track for a fourth loss in the last five days, the silver lining is that this pullback has the stock near a historically bullish trendline.DKNG has come within one standard deviation of its 80-day moving average, defined for this study as having traded north of this trendline 80% of the time in the past two months, and in ei ...

Worry less about these stocks' recent action, and focus more on the strength of their underlying businesses.Given the choice, most investors prefer buying stocks on a dip rather than during (or after) a rally. Why pay more when you can pay less? Paying less means more eventual profits.Sometimes, though, it's worth jumping into a stock while it's on the way up. There may not be a pullback coming anytime soon. Waiting could end up being costly instead of helpful.With that as the backdrop, here's a closer look ...

Beginner investors are always worried about spending too much or too little in the stock market. Some want to start slow and watch their investments while others want to go all in and reap significant gains. However, the stock market cannot be timed, and no crystal ball can help us either. The trick is to identify undervalued stocks that can become portfolio game-changers in the long term. If you are starting your investment journey with a limited amount, consider three stocks to buy under $100 for signific ...

As earnings season winds down, the long-awaited shift from growth to value seems to be emerging. Many tech stocks are down despite good earnings as investors hunt for bargains. That’s a good reason to explore undervalued stocks under $50. To begin with, investors like stocks under $50 because they can make a small investment go further. But, there’s a difference between price and value. Some stocks under $50 don’t have much upside left for investors. And if they don’t pay a dividend, you can find better opt ...

财务数据和关键指标变化 - 第一季度收入同比增长84%,达到7.7亿美元 [10] - 调整后EBITDA为-2.22亿美元,大幅好于预期 [17] - 结构性体育博彩收益率好于预期,派彩率提升超过600个基点 [17] 各条业务线数据和关键指标变化 - 体育博彩业务和互联网博彩业务表现强劲,是收入增长的主要驱动因素 [31] - 互联网博彩业务第一季度实现市场份额第一,占比26% [13] - 自主研发的DraftKings Jackpot产品已在3个州上线,超过100个老虎机和桌面游戏 [13] - 新推出的DK Horse独立赛马应用已在3月底上线 [13] 各个市场数据和关键指标变化 - 公司在2018年、2019年和2020-2021年州份的第一季度营业额同比增长超过25% [18] - 这些老牌州份的GAAP收入同比增长至少80%,调整后毛利率同比提升至少1200个基点,外部营销支出同比下降至少10% [18] - 新州份如俄亥俄州和马萨诸塞州的用户获取速度超预期,第一季度用户渗透率已达到6%左右 [43][44] 公司战略和发展方向及行业竞争 - 公司将继续投资内部交易能力和技术,为即将到来的NFL赛季做准备 [12] - 公司认为目前专注于美国市场机会巨大,暂无扩展海外市场的计划 [114][116][117] - 公司认为行业竞争格局正在向头部企业集中,这有利于公司进一步扩大市场份额 [44][45][46] 管理层对经营环境和未来前景的评论 - 公司对2023年全年业绩充满信心,预计收入增长将达到42%,调整后EBITDA亏损将收窄21% [10][11] - 管理层表示公司正专注于收入增长和成本效率,有望在第二季度实现调整后EBITDA基本盈亏平衡,第四季度将达到近1.5亿美元的正调整后EBITDA [11] - 管理层认为公司有望在2024年全年实现调整后EBITDA正值,无需额外融资 [162]