Multi-national lottery firm Allwyn International is to purchase a 62.3% majority stake in US daily fantasy sports giant PrizePicks for $1.6 billion.
It will signify the firm’s first move into the sports and entertainment market in the US.
Although the news that Allwyn is to acquire a majority stake in PrizePicks was not unexpected, the figures involved are certainly eye-watering.
The $1.6 billion deal implies an upfront enterprise value of $2.5 billion for PrizePicks, the largest daily sports platform in the US.
Allwyn’s Expansion Within The US
Allwyn was founded in the Czech Republic and in 2023 completed the purchase of Camelot UK in preparation of taking over the running of the UK national lottery from February 2024.
Its acquisition of Camelot Lottery Solutions group in 2023 saw it become the operator of the Illinois state lottery as well as inherit iLottery tech and content.
Allwyn also holds an ownership stake in Kaizen Gaming, the operator of the digital sports betting brand Betano in Ontario.
This latest deal, advised by Moelis & Company, will boost Allwyn’s reach from one US state to 45 and is in keeping with Allwyn’s ambition to become the world’s leading gaming entertainment company.
For the second quarter of this year, Allwyn recorded revenue of €2.27bn ($2.67bn), a 6% increase year-on-year.
In its financial year report, PrizePicks reported Adjusted EBITDA of $339 million in the 12 months up to June 2025, a healthy revenue growth of over 60% year-on-year.
PrizePicks will continue to operate as a standalone brand within the wider Allwyn group, with present CEO Mike Ybarra remaining in control with his present executive team.
Should the daily fantasy sports specialist achieve certain metrics over the next three years, shareholders may receive an additional cash consideration of up to $1 billion in 2029, which would effectively raise PrizePicks’ implied enterprise value to $4.15 billion.
Executive Reaction From Allwyn International
Karel Komarek, Allwyn Founder and Chair: “This acquisition will continue to drive Allwyn’s momentum and expand our business in the United States.
“PrizePicks has established its credentials as an industry pioneer, revolutionising the way fans engage with the athletes they love, making the contests more thrilling and immersive.
“We are excited to work with PrizePicks to shape the future of this new frontier in casual entertainment.”
Robert Chvatal, Allwyn CEO: “This is a significant European investment, and Allwyn’s biggest in the United States to date.
“PrizePicks is an entrepreneurial company that is empowering a new generation of fans who want to engage with their favourite sports and athletes, not just spectate. PrizePicks has created an intuitive platform that simplifies the process of making skilled predictions.
“I look forward to partnering with Mike and the PrizePicks team to support the growth of the business.”
Executive Reaction From PrizePicks
Mike Ybarra, CEO of PrizePicks: “Today marks the start of an exciting new chapter for PrizePicks and our growing community of players.
“There has never been a more electrifying time to shape the future of fan-first entertainment.
“By joining forces with Allwyn, a like-minded and disruptive company that shares our passion for bold product innovation, we willaccelerate our mission to make our games more interactive, engaging and rewarding for fans everywhere.”
Adam Wexler, PrizePicks Founder: “From day one, we set out to create a more accessible style of fantasy sports that could appeal to casual players.
“As the industry evolved, PrizePicks was the first to go all-in on the simplest prediction model and take it to scale, reshaping how fans engage with fantasy sports.
“Now, with Allwyn’s backing, we’ll accelerate our vision and bring our games to even more players on a much bigger stage.”
