Jefferies analyst David Katz notes that Flutter Entertainment (FLUT) announced that it will introduce a new 50c transaction fee on each bet placed on its platform in Illinois following the recent decision by the Illinois State legislature to introduce a betting transaction fee for licensed operators on all sports wagers placed within the state from July 1. Flutter’s decision to pass on the OSB tax to players is likely to be followed by DraftKings (DKNG), says the analyst, who believes a surcharge is the most direct cost offset given the structure of the tax. The analyst, who views the move as “a modest positive for the shares of the operators,” has a Buy rating and $60 price target on DraftKings shares.

Confident Investing Starts Here:

• Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions

• Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. >;elm:context_link;itc:0;sec:content-canvas" href="https://thefly.com/?utm_source=finance.yahoo.com&utm_medium=referral" rel="nofollow noopener" target="_blank">Try Now>>

>;elm:context_link;itc:0;sec:content-canvas" href="https://www.tipranks.com/screener/top-insider-trading-stocks/?type=stockAnalysisLanding&utm_source=finance.yahoo.com&utm_medium=referral" rel="nofollow noopener" target="_blank">See Insiders’ Hot Stocks on TipRanks >>

Read More on DKNG:

Disclaimer & DisclosureReport an Issue

• Moderately bullish activity in DraftKings with shares up 1.12%

• 3 Best Growth Stocks to Buy Now, 6/6/2025, According to Analysts

• DraftKings price target lowered to $50 from $54 at Citizens JMP

• Apple downgraded, Snowflake upgraded: Wall Street’s top analyst calls

• Bernstein starts entertainment sector with five Outperform ratings