Title: DraftKings Announces Gaming Tax Surcharge Starting 2024: How Will This Affect DKNG Stock Investors?
DraftKings (NASDAQ:DKNG) surprised investors with a new gaming tax surcharge in its latest earnings report. CEO Jason Robins revealed plans for the surcharge in states with high taxes and multiple sports betting operators, set to take effect in 2025. This move could lead to increased Adjusted EBITDA. The surcharge will impact states with a gambling tax over 20%, including New York, Pennsylvania, Vermont, and Illinois. Despite reporting profits and a growing user base, DKNG stock is down 7.8%. Stay tuned for more market news and analysis to understand the impact of this development on your finances.