DraftKings Boss Says IRS Excise Tax Memo 'Deeply Flawed'

  • CEO Robins says company disagrees with IRS memo arguing DFS subject to excise tax
  • Stock price declines 6 percent after IRS memo and $161m loss in second quarter
  • DraftKings plans to remain disciplined in ad spend despite competitors gearing up with capital

DraftKings CEO Jason Robins says the Internal Revenue Service (IRS) memo arguing that daily fantasy sports (DFS) are subject to the federal excise tax on sports wagering is “deeply flawed.”

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