Flutter Entertainment hit as Illinois Senate approves sports betting tax
Flutter Entertainment (DI)
20,530.00p
17:15 07/01/25
-0.92%
-190.00p
DraftKings and FanDuel owner Flutter Entertainment slid on Thursday after the Illinois Senate passed a bill that would make Illinois the second most expensive state for wagers to do business in.
DJ EURO STOXX 50
5,011.82
23:58 07/01/25
0.50%
25.18
FTSE 100
8,245.28
17:14 07/01/25
n/a
n/a
FTSE 350
4,537.45
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,493.46
16:44 07/01/25
n/a
n/a
Travel & Leisure
9,053.88
17:14 07/01/25
0.09%
8.05
According to reports, the bill - which was approved over the weekend by a 37 to 22 vote - would mean that operators with the highest adjusted gross revenue would pay a 40% tax.
The bill, which will now go back to the House for concurrence, is due to become effective on 1 July.
The top rate would be the second highest among US states with competitive markets after New York, at 51%.
At 1250 BST, Flutter shares were down 4.8% at 15,210p, while DraftKings was down 6.8% in pre-market trade.