DraftKings(NASDAQ: DKNG) stock has been hit by news that Illinois could be raising taxes, and that may undermine the company's financial upside. As Travis Hoium discusses in this video, taxes may continue to be a headwind for online gaming companies long-term.
*Stock prices used were end-of-day prices of June 3, 2024. The video was published on June 3, 2024.
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Travis Hoium has positions in MGM Resorts International. The Motley Fool recommends Flutter Entertainment Plc. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
