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The Hidden Battle DraftKings Can't Win

If taxes go up on online gaming there's not a lot DraftKings can do about it.

By Travis Hoium – Aug 8, 2024 at 5:00AM EST

DraftKings (DKNG +5.48%) continues to grow like crazy and the business is becoming more efficient as it scales. But there's a huge drag on profitability from taxes, which could become an ongoing challenge. In this video, Travis Hoium shows why taxes on online gaming will be a headwind DraftKings may not be able to overcome.

*Stock prices used were end-of-day prices of Aug. 6, 2024. The video was published on Aug. 6, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
TMFFlushDraw
X@travishoium

Travis Hoium has positions in MGM Resorts International. The Motley Fool has no position in any of the stocks mentioned. 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.

Stocks Mentioned

DraftKings Stock Quote
DraftKings
NASDAQ: DKNG
$25.22
(+5.43%)+$1.30

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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