Allwyn International AG Completes Acquisition of 62.3% Stake in PrizePicks

Allwyn International AG, a lottery-led gaming entertainment company, has finalized its acquisition of a 62.3% stake in PrizePicks, a leading daily fantasy sports operator in North America, for a closing consideration of $1.533 billion. The agreement brings PrizePicks' complementary capabilities in fast-growing markets, including the launch of regulated prediction markets in nearly every U.S. state.

PrizePicks has introduced new offerings such as Team Picks and Culture Picks within its app, in addition to strategic partnerships with Kalshi and Polymarket. With Allwyn's global reach and operational expertise, PrizePicks aims to sustain growth and enhance user engagement. The partnership will drive product innovation and support the long-term growth of PrizePicks while preserving its culture and leadership continuity.

Allwyn's CEO, Robert Chvatal, expressed enthusiasm about the investment, highlighting its significance in strengthening the company's presence in the United States. PrizePicks' CEO, Mike Ybarra, sees the partnership as an opportunity to fuel innovation and deepen engagement with the player community. Adam Wexler, Founder and PrizePicks Board Member, also looks forward to collaborating with Allwyn to continue innovating in the world of sports and culture predictions.

PrizePicks, based in Atlanta, Georgia, is focused on offering skill-based fantasy games and prediction offerings across 48 jurisdictions, aiming to enhance the sports experience for its customers. Allwyn, a multi-national gaming entertainment company, prioritizes innovation, technology, player safety, and social contributions in its casual gaming entertainment portfolio.