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DraftKings, Flutter Shares Tumble on Illinois Sports Betting Tax Hike

DraftKings, Flutter Shares Tumble on Illinois Sports Betting Tax Hike

A budget agreement that will nearly triple the tax on some sports bets in Illinois roiled shares of the major sports books operating in the state, sending shares of DraftKings down as much as 14% during trading Tuesday, while competitor Flutter, owner of FanDuel, plunged 8%. Officials in Illinois agreed on a fiscal 2025 budget,...

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ESPN BET named official PGA Championship betting partner

ESPN BET named official PGA Championship betting partner

Penn Entertainment’s stock took a hit last week after ESPN Bet’s performance fell well below expectations. And that has since sparked criticism and made it difficult for Pat McAfee to promote the platform. But after last week’s news cycle,  Penn Entertainment announced Tuesday a multi-year deal with the PGA of America, making ESPN Bet the...