Allwyn Acquires Majority Stake in PrizePicks to Expand into Daily Fantasy Sports
Allwyn’s Major Investment in PrizePicks
Allwyn International, a leading global lottery company, has announced its intention to acquire a majority ownership of PrizePicks, a prominent daily fantasy sports (DFS) operator serving the North American market. The deal involves purchasing a 62.3% stake in PrizePicks for an initial sum of $1.6 billion, valuing the entire business close to $2.5 billion.
The agreement also includes provisions for additional payments up to $1 billion based on PrizePicks’ performance over the next three years. This potential earn-out could raise the total valuation to as much as $4.15 billion. Despite becoming part of Allwyn, PrizePicks will maintain its independent brand identity and leadership team. CEO Mike Ybarra and his management team will continue to lead operations, with co-founder Adam Wexler remaining on the board. The acquisition is expected to be finalized in the first half of 2026, pending regulatory and other customary closing conditions.
Strategic Move to Enter the US Sports Entertainment Market
Allwyn recognizes PrizePicks as a trailblazer in the DFS space, commending its dedication to fans and innovation with new, engaging offerings. PrizePicks operates in over 45 U.S. jurisdictions and is among the fastest-growing companies in its sector, delivering strong profitability alongside robust double-digit revenue growth.
This acquisition marks Allwyn’s first significant expansion into U.S. sports entertainment, beyond its existing collaboration with the Illinois Lottery. By joining forces with PrizePicks, Allwyn aims to leverage its technological expertise and expand its gaming entertainment presence across the broader American market.
Leadership Perspectives on the Partnership
Karel Komarek, founder and chair of Allwyn, emphasized that this acquisition will strengthen the company’s expansion plans in the U.S., tapping into local market expertise. He highlighted PrizePicks’ pioneering position in transforming fan engagement through more immersive and thrilling contests.
Allwyn’s CEO, Robert Chvatal, shared enthusiasm about the deal, noting it as the company’s largest investment in the U.S. to date and expressing optimism about collaborating with the PrizePicks team to further grow the business.
Stepan Dlouhy, Allwyn’s chief investment officer, described PrizePicks as an ideal fit for their vision of leading digital casual entertainment and mass media innovation.
Mike Ybarra, CEO of PrizePicks, welcomed the partnership as the beginning of an exciting new phase, one that will accelerate innovation and enhance the interactive and rewarding experience for fans nationwide.
Co-founder Adam Wexler affirmed that Allwyn’s support will enable PrizePicks to expand its reach and realize its vision to engage more players with innovative games.
