Allwyn has officially closed its historic acquisition and obtained a controlling interest in PrizePicks, a leading US daily fantasy sports (DFS) operator.
The transaction, finalized on January 16 for a consideration of $1.533 billion, grants Allwyn a 62.3% stake in the company. The deal provides Allwyn with a clean entry point into the fast-growing US fantasy and prediction market sector, as PrizePicks enters the partnership with zero outstanding debt.
Expanding Horizons
This acquisition marks a significant pivot for Swiss-based Allwyn, traditionally known for its lottery operations, including the Illinois Lottery. By acquiring PrizePicks, Allwyn diversifies its global entertainment platform beyond traditional lottery formats. Despite the change in ownership structure, PrizePicks will continue to operate independently, with Mike Ybarra retaining his role as CEO.
“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,” Ybarra stated. “Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
New Features and Partnerships
PrizePicks continues to innovate its product offering, recently launching “Team Picks” in over 30 states and “Culture Picks” for entertainment predictions in 48 states. Furthermore, the company has secured National Futures Association (NFA) approval to distribute event contracts through partnerships with Kalshi and Polymarket, bridging the gap between DFS and regulated prediction markets.
Robert Chvatal, CEO of Allwyn, commented on the strategic acquisition: “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.”
PrizePicks Founder Adam Wexler added, “It became clear that Allwyn shares our customer-first philosophy and our vision for the future of entertainment.”
