DraftKings shares are trading lower after the Illinois Senate approved a 2025 budget that includes a sports betting tax hike.
Portfolio Pulse from Benzinga Newsdesk
DraftKings shares are trading lower after the Illinois Senate approved a 2025 budget that includes a sports betting tax hike.
May 28, 2024 | 11:24 am
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NEGATIVE IMPACT
DraftKings shares are experiencing a decline following the Illinois Senate's approval of a 2025 budget that includes an increase in sports betting taxes.
The approval of a budget that includes a sports betting tax hike directly impacts DraftKings' operations and profitability in Illinois, leading to a negative market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100