Allwyn Completes Acquisition of Majority Stake in PrizePicks
Allwyn International AG, the lottery-led gaming entertainment company, and PrizePicks, the leading daily fantasy sports operator in North America, announced the completion of Allwyn’s previously disclosed agreement to acquire a 62.3% stake in PrizePicks. The closing consideration for the stake is $1533 million, subject to customary post-closing adjustments and excluding performance-based earnouts. PrizePicks had no outstanding loans or borrowings at closing.
PrizePicks brings highly complementary capabilities in fast-growing, opportunity-rich markets. Crucially, the business shares Allwyn’s conviction in both the power of technology and the importance of commitments to responsible play and community impact. PrizePicks is a strong addition to Allwyn’s expanding portfolio in casual entertainment, in line with its vision to become the world’s leading global gaming entertainment company.
Since the initial transaction announcement on 22 September 2025, PrizePicks has continued to execute its growth strategy successfully. This includes the launch of its regulated prediction markets offering in November, extending PrizePicks’ footprint to nearly every U.S. state. As a sports entertainment operator registered as a Futures Commission Merchant by the National Futures Association, PrizePicks is well positioned to scale responsibly.
Within the PrizePicks app, two new offerings have been added: Team Picks, which allows customers to make predictions on team-based outcomes rather than individual player performance, and is currently live in 30 states and the District of Columbia (D.C.); and, Culture Picks, which lets customers predict outcomes on trending cultural and entertainment events, and is currently live in 48 states and D.C. PrizePicks has also partnered with both Kalshi and Polymarket, reinforcing its growth potential in the emerging prediction markets space. This innovation expands PrizePicks’ customer experience, creating new engagement opportunities within the gaming entertainment space. With Allwyn’s global reach and operational expertise, PrizePicks is well positioned to sustain growth and deepen user engagement.
PrizePicks continues to build on its strong momentum through a growing customer base, disciplined execution, and a differentiated product offering. Its scalable technology platform and unique approach to engagement make PrizePicks a highly attractive long-term partner for Allwyn. Together, the companies will leverage their combined strengths to accelerate product innovation. The partnership establishes a strong foundation for long term growth while preserving the culture, leadership continuity, and agility that have defined PrizePicks’ success.
Robert Chvatal, Chief Executive Officer of Allwyn, said: “We are excited to support and participate in the next phase of PrizePicks’ growth. This investment advances Allwyn’s strategy to build a diversified global entertainment platform and significantly strengthens our presence in the United States. I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world.”
Mike Ybarra, Chief Executive Officer of PrizePicks, said: “Today marks a defining moment for PrizePicks. Allwyn’s global scale, operational expertise, and long-term approach make them an ideal partner as we continue to grow and evolve. Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
Adam Wexler, Founder and PrizePicks Board Member, said: “From the beginning, we built PrizePicks by putting our community first and focusing on delivering an industry-leading member experience. As we looked ahead to the next phase of PrizePicks’ growth, it became clear that Allwyn shares our customer-first philosophy and our vision for the future of entertainment. I could not be more excited to collaborate with the Allwyn leadership team as PrizePicks continues to innovate in the world of sports and culture predictions.”
