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DraftKings posts wider-than-expected loss as revenue beats

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DraftKings posts wider-than-expected loss as revenue beats

DraftKings Inc. shares fell
DKNG,
+6.84%
5.7% in premarket trade Friday, after the company posted a bigger-than-expected loss for the second quarter but sales that topped estimates. The stock had already taken a dip after a Bloomberg report that the Internal Revenue Service will require fantasy sports companies to pay federal excise tax on their entry fees. Boston-based DraftKings said it had a loss of $161.4 million, or 55 cents a share, in its fiscal second quarter to June 30, wider than…

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