Jefferies analyst David Katz said Flutter and DraftKings will add a $0.50 surcharge per online sports bet in Illinois to offset the state’s new tax. The tax is $0.25 per bet on the first 20 million bets and $0.50 on each subsequent bet; both companies said they would remove the surcharge if the tax is withdrawn.
The surcharge changes the per-bet cost for Illinois customers and operators under the new tax structure.
Quarter ended 30 September 2026
Quarter ended 30 September 2026
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New York Supreme Court denied motions to dismiss claims brought by FanDuel co-founder Nigel Eccles and other former shareholders against KKR and Shamrock Capital, according to the report. The plaintiffs allege the firms undervalued FanDuel in its 2018 merger; the ruling allows the case to proceed, while KKR and Shamrock have also accused Eccles of breaching a 2017 agreement.
FanDuel surrendered its Nevada registration and licences after parent company Flutter announced plans to launch a sports event-contract app with CME Group in December, reportedly. The planned app would offer contracts on sports and other events, subject to regulatory filings; Nevada’s Gaming Control Board considers sports event contracts wagering under state law.
DraftKings lowered its full-year 2026 revenue guidance to $6.35 billion-$6.55 billion, from $6.5 billion-$6.9 billion previously, and reported a third-quarter adjusted EBITDA loss of $317 million. The company said more than 1.6 million customers had used its predictions offering year-to-date and expected 2026 predictions investment of at least $650 million; its shares fell about 22% in Thursday after-hours trading after the results.
Flutter Entertainment chief executive Dan Taylor said on its 4 November earnings call that the company expects more clarity in the coming months on the economics of FanDuel Predicts. FanDuel recorded $119 million in trading volume in the third quarter; Flutter expects its market-making operation to generate $50 million in revenue and $40 million in adjusted EBITDA during 2026.
Bet365, FanDuel and Hard Rock are using AI features to provide bettors with game insights and help building wagers, according to the report. Eilers & Krejcik Gaming analyst Brad Allen said its app testing found Hard Rock’s AI insights well received, while feedback on FanDuel’s AceAI was mixed; the sample was too small to establish broader preferences.