Allwyn acquires a 62.3% stake in PrizePicks for $1.53 billion, securing a footprint in 48 states and D.C.
The lottery-led gaming group secures a 62.3% stake in the US fantasy sports operator, strengthening its North American footprint and expanding its exposure to prediction markets
Allwyn International AG has completed its acquisition of a 62.3% majority stake in PrizePicks, finalising a transaction first announced in September 2025 and marking a significant expansion of Allwyn’s presence in the United States.
The closing consideration for the stake totals $1.533bn, subject to customary post-closing adjustments and excluding performance-based earnouts. At the time of closing, PrizePicks reported no outstanding loans or borrowings. The transaction positions Allwyn as the controlling shareholder while maintaining leadership continuity at PrizePicks.
Strengthening Allwyn’s US and casual gaming strategy
PrizePicks adds a fast-growing, technology-driven business to Allwyn’s portfolio, aligning with the group’s broader ambition to build a diversified global gaming entertainment platform. Headquartered in Atlanta, PrizePicks operates across more than 48 US jurisdictions and has established itself as the leading daily fantasy sports operator in North America.
Since the initial announcement of the transaction, PrizePicks has continued to execute its growth strategy, including the launch of a regulated prediction markets offering in November 2025. That expansion has extended the company’s footprint to nearly every US state, positioning PrizePicks at the intersection of sports entertainment and federally regulated event-based markets.
Registered as a Futures Commission Merchant with the National Futures Association, PrizePicks operates within a regulatory framework that allows it to scale prediction products alongside its core fantasy offerings.
Product expansion and prediction market partnerships
PrizePicks has introduced several new features within its app as part of its ongoing product development. Team Picks, which allow users to make predictions on team-based outcomes rather than individual player performance, are currently live in 30 states and Washington, DC. Culture Picks, focused on cultural and entertainment events, are available in 48 states and DC.
The company has also entered partnerships with Kalshi and Polymarket, further embedding itself within the emerging US prediction markets ecosystem. These integrations are designed to broaden engagement beyond traditional fantasy sports while remaining within regulated structures.
Leadership perspectives and long-term positioning
Allwyn CEO Robert Chvatal described the acquisition as a strategic step in strengthening the group’s US presence and expanding its casual entertainment offering. PrizePicks CEO Mike Ybarra characterised the deal as a defining moment for the company, citing Allwyn’s global scale and long-term approach as key factors in the partnership.
Founder and board member Adam Wexler noted alignment between the two organisations around community focus, product innovation, and customer experience.
Building a platform for sustained growth
With Allwyn’s capital resources and operational expertise, PrizePicks is positioned to continue scaling its technology platform, expand regulated offerings, and deepen user engagement. The transaction reflects a broader industry shift toward casual, prediction-based entertainment formats that sit alongside traditional gaming products.
For Allwyn, the acquisition establishes a stronger foothold in the US market while preserving the agility and culture that have driven PrizePicks’ growth to date, laying the groundwork for long-term expansion across sports, culture, and prediction-led entertainment.
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