Earlier this month, DraftKings said it would introduce a surcharge on users in states where taxes on sports betting are highest. FanDuel wouldn’t follow…
Flutter reported phenomenal second-quarter earnings this week, wowing investors and sending shares up.
"We always listen to our customers and after hearing their feedback we have decided not to move forward with the gaming tax surcharge. We are always committed to delivering the best value in the industry to our loyal customers," DraftKings said in a statement. "Smaller players may also have to increase their prices, which leads to us capturing more share, which provides an offset for us," he said on the company's earnings call."We view the decision to remove the surcharge as a positive for the story, as users were disappointed with the company's initial decision," wrote Piper Sandler analyst Matt Farrell in a note.
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