Allwyn has appointed Khalid Reede Jones as CEO of Allwyn North America, filling a position that had been vacant since November as the company continues Illinois Lottery operations and expands into large-scale daily fantasy sports (DFS) across the region.
Jones, who completed a two-year tenure as Executive Director of the Virginia Lottery in May, will be based in Chicago and officially starts his position on July 6. His mandate centers on the Illinois Lottery operating partnership and on growing Allwyn's business as a technology and games supplier to additional North American lottery customers.
The PrizePicks operation, in which Allwyn holds a majority stake, sits outside his scope and continues under its own leadership.
Profile: Who is Khalid Reede Jones?
Following Jones’s departure from the Virginia Lottery, Governor Abigail Spanberger appointed former Lottery Director Kevin Hall to succeed him on June 2.
Jones's professional history covers more than two decades across sectors which don't often intersect: lottery operations, securities enforcement, gaming licensing and private investment. After early stints as an associate focused on securities enforcement at Crowell & Moring and Mayer Brown in Washington, he moved into private markets, co-founding Thrasher Funds and later serving as a Partner and General Counsel at SourceRock Partners.
He also founded consulting firm The Kolier Group and later became a partner at All American Licensing before joining the Virginia Lottery in April 2024.
That combination of private sector deal-making and public agency leadership is what Allwyn CEO Robert Chvátal pointed to in announcing the hire: "Khalid brings a rare mix of regulatory insight, commercial experience and a genuine commitment to responsible growth.
"A digitally minded leader who understands the power of partnerships and innovation. I know his perspective and energy will be hugely valuable to our North American business."
In a farewell post on LinkedIn last week, Jones described his departure from the Virginia Lottery as a bittersweet moment and "one of the most difficult decisions I've ever made," adding that he had "given all of myself to this agency" over two years.
The context behind his appointment
The hire closes a gap at the top of a division that has undergone significant structural change. Wayne Pickup, who had led Allwyn North America, left the role last November to join Australia’s The Lottery Corporation.
For Jones, the immediate task is more contained: consolidate Allwyn's position in Illinois, expand the technology and games business across the broader North American lottery market and position the division for its next phase of growth
Jones steps into the role against the backdrop of a company that has moved fast in the US. In September 2025, Allwyn announced it had agreed to acquire a 62.3% stake in PrizePicks, one of the largest DFS operators in North America, for an initial cash consideration of $1.6bn, implying an upfront enterprise value of $2.5bn.
The deal closed in January 2026, with a final consideration of $1.5bn. Additional performance-based earnouts could push the total implied enterprise value to as high as $4.15bn over three years if PrizePicks hits certain targets.
At the time of announcement, PrizePicks reported adjusted EBITDA of $339m for the 12-month period ending in June 2025, with revenue growth exceeding 60% year-on-year.
The appointment also comes as Allwyn reports steady group-level results. For full-year 2025, the company posted total revenue of €8.99bn ($10.2bn), up 4% from €8.66bn in 2024, with GGR reaching €8.63bn and net revenue rising 4% to €4.11bn.
Online net gaming revenue grew 11% year-on-year, reflecting continued progress in digital channels. Adjusted EBITDA came in at €1.6bn, also up 4%, while operating EBITDA slipped 5% to €1.31bn amid cost pressures and shifting market conditions in some segments.
Jones’ remit: Cut out the Illinoise
In North America specifically, the Illinois Lottery has been cited as one of Allwyn's better-performing operations. The company also achieved Great Place to Work certification in the region, one of several markets where it received the designation.
Allwyn's broader strategic posture has also shifted. Alongside the PrizePicks deal, Allwyn completed a business combination with Greek gaming operator OPAP in March 2026, creating the world's second-largest publicly listed lottery and gaming operator.
The transaction resulted in Allwyn becoming a publicly listed company and further expanded its international portfolio, which spans the UK National Lottery, Italy, Austria, Greece and the Czech Republic.
For Jones, the immediate task is more contained: consolidate Allwyn's position in Illinois, expand the technology and games business across the broader North American lottery market and position the division for its next phase of growth. Simple, right?
Allwyn announced the appointment of Katie Harbron as its new Director of Games on March 17, where she will be responsible for overseeing the National Lottery’s games department
