DraftKings responds to $100,000 New Jersey fine

DraftKings has provided a short statement in response to the news about the fine it received from the New Jersey Division of Gaming Enforcement (DGE). 

The operator was handed a $100,000 fine by the DGE for reporting inaccurate sports betting data, with the regulator sending DraftKings a letter on June 16, which was made available to the public only recently. 

It has been said that DraftKings was correcting financial data over a number of months, something not seen in the Garden State for 13 years. 

The mistakes in the reporting involved overstating the amount of money wagered on multi-tiered bets, or parlays, and understating other categories of wagers. 

As a result of this, Resorts Digital filed incorrect sports betting tax returns for December 2023, January 2024 and February 2024, with documents having to be corrected and reposted weeks later. 

A company spokesperson provided the following statement in relation to the news about the fine given to the operator, saying: “We value our relationship with the DGE and are committed to ensuring compliance with all regulatory guidelines.  

“There was an error in the reporting of our wagering mix breakdown to the state that we have corrected by implementing additional controls.” 

In other company news last week, a federal judge has denied a motion from DraftKings to dismiss a class action lawsuit which alleges that it violated federal securities laws by not properly registering its NFTs. 

Ciaran McLoughlin

Editor

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