Illinois Democrats betting on video gaming, sportsbooks to fill budget gap. Here's how [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
state government are betting on two of its most rapidly growing revenue sources: sports wagering and video gambling. The industries – both legalized within the last 15 years – have developed into two of the most robust markets in the nation; Illinois' sportsbooks collectively have the fourth-largest handle among all states, while Illinois' video gambling industry is by far the largest of any state. When proposing his budget plan in February, Pritzker suggested increasing taxes only on sports betting. But despite pushback from some Democrats – and the sportsbooks' massive spend on lobbying to kill the tax hike – the governor got above and beyond what he'd requested from the legal gambling industry, even as some of his other proposed new revenues were left on the cutting room floor in the final weeks of the General Assembly's spring legislative session. In the end, Illinois' growing video gambling industry will see a 1 percentage point tax hike that's estimated to bring in another
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News
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DKNG
Earnings
- 5/2/24 - Beat
DKNG
Sec Filings
- 6/25/24 - Form 144
- 6/17/24 - Form 144
- 6/14/24 - Form 4
- DKNG's page on the SEC website