TipRanks

Sat, Jun 14, 2025, 5:45 AM1 min read

Jefferies notes that DraftKings (DKNG) followed Flutter Entertainment (FLUT), as expected, and announced a 50c transaction fee per bet in Illinois in direct response to tax passed last week in the state. Given the structure of the tax, a surcharge is the most direct cost offset and the move would likely be “a modest positive for the shares,” though this was “widely expected, and therefore mostly priced in,” according to the analyst, who keeps a Buy rating and $60 price target on DraftKings shares.

• 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/analysts-top-stocks/?type=stockAnalysisLanding&utm_source=finance.yahoo.com&utm_medium=referral" rel="nofollow noopener" target="_blank">See the top stocks recommended by analysts >>

Read More on DKNG:

Disclaimer & DisclosureReport an Issue

• DraftKings transaction fee to offset tax headwinds, says Citi

• DraftKings’ Strategic Positioning and Growth Potential Earns Buy Rating from Analyst

• DraftKings’ Strategic Fee Implementation to Counter Illinois Tax Increase Supports Buy Rating

• DraftKings announces 50c transaction fee in Illinois

• LYV, DKNG, SPOT: Bernstein Selects the Best Entertainment Stocks to Buy Right Now