Tax Targets: DKNG, FanDuel Face New Margin Pressure
Schwab Network · Schwab Network
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Show Notes
Illinois' new "sin tax" on sports betting may be a short-term pain for companies like DraftKings (DKNG) and FanDuel, but Morningstar's Dan Wasiolek says it's a manageable hit to margins. He expects the sports betting space to continue growing, even if new jurisdictions don't come online as quickly as expected. He points to a $30 billion revenue estimate for U.S. sports betting by 2030 and sees growth in profitability for leaders like DraftKings, which he says could weather a recession better than traditional casinos.
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