News

DraftKings Keeps Buy Rating From Needham as Analyst Sees $35 Price Target

Needham kept its Buy rating on DraftKings and set a $35 price target, above the stock’s recent $22.47 close. Broader analyst consensus on DKNG remains Strong Buy.

Feds say Emmanuel Clase tipped 18 pitches in New York betting case

Federal prosecutors in Brooklyn say they identified 18 pitches thrown by Cleveland closer Emmanuel Clase over 17 games as part of a gambling case tied to advance information for bettors.

Arizona budget proposal would raise sports betting tax to 45% at $75M monthly handle threshold

Arizona Gov. Katie Hobbs has proposed a major sports betting tax increase, though state regulators say the budget language needs clarification because the $75 million trigger refers to monthly handle, not revenue.

New York NFL Week 1 betting handle hits record $594.6 million as hold falls to 2.9%

New York mobile sportsbooks posted a record $594.6 million NFL Week 1 handle, but bettor-friendly results drove the statewide hold down to 2.9% and revenue to $16.96 million.

New York Racino Revenue Fell 38% in August as Mid-Atlantic Casinos Slumped

New York racinos reported a sharp August downturn, with gross gaming revenue falling 38% year over year to $137.2 million as casino results weakened across much of the Mid-Atlantic.

New York mobile sports betting hits $1.3B in tax revenue as problem gambling calls rise

New York’s mobile sports betting market generated $1.3 billion in state tax revenue in SFY 2026, according to a new comptroller report, while calls to the state’s problem gambling hotline rose 8.5% since 2020.

Knicks’ NBA Finals run led to $14 million loss for New York mobile sportsbooks

More than $1 billion was wagered on mobile sports betting in New York during the Knicks’ NBA Finals run, but sportsbooks still posted a combined $14 million loss.