FanDuel, DraftKings take Missouri profits nearly triple their cost for sports wagering campaign [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
The two online bookies who financed the campaign to legalize sports wagering in Missouri have won $120 million from bets placed in the state but so far have not had to pay any tax on those profits. FanDuel and DraftKings handled 73% of the $928 million wagered in Missouri during the first two months of legal sports wagering, according to the latest financial report from the Missouri Gaming Commission. The two companies have 77% of the profits from those bets, but offset the entire amount won from players by deductions for promotional wagers and other costs. Their winnings so far are about three times what it cost the companies in the 2024 election. Missouri taxes the operator winnings of mobile platforms and casino-based retail sports at 10%, but the constitutional amendment passed in 2024 allows a write-off of all promotional costs, federal taxes and other business costs, from the taxable amount. Sports wagering launched in Missouri on Dec. 1, and bettors placed $543 million
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News
- DraftKings (DKNG) had its price target lowered by Citizens Jmp from $38.00 to $34.00. They now have a "market outperform" rating on the stock.MarketBeat
- Sports betting taxes: How they work and what you might owe [Yahoo! Finance]Yahoo! Finance
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- Ohio Sportsbooks Claimed Nearly $70 Million In February Sports Betting Revenue [Yahoo! Finance]Yahoo! Finance
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DKNG
Earnings
- 2/12/26 - Beat
DKNG
Sec Filings
- 4/2/26 - Form 4
- 3/26/26 - Form SCHEDULE
- 3/26/26 - Form ARS
- DKNG's page on the SEC website