Allwyn International AG has completed its majority acquisition of PrizePicks for a closing consideration of $1.53bn, providing the organization with a 62.3% stake in the daily fantasy sports (DFS) operator.
“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,” Allwyn CEO Robert Chvatal said.
“I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world.”
Since announcing the acquisition in September 2025, PrizePicks has launched two prediction market offerings in the US, with Team Picks currently live in 30 states while Culture Picks has extended to 48 states across the country.
Team Picks allows customers to make predictions on team-based outcomes rather than individual player performance, while Culture Picks lets customers predict outcomes on trending cultural and entertainment events.
“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,” PrizePicks CEO Mike Ybarra said.
“Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
PrizePicks Founder and Board Member Adam Wexler also spoke on the acquisition’s closing, having said, “From the beginning, we built PrizePicks by putting our community first and focusing on delivering an industry-leading member experience.
“As we looked ahead to the next phase of PrizePicks’ growth, it became clear that Allwyn shares our customer-first philosophy and our vision for the future of entertainment. I could not be more excited to collaborate with the Allwyn leadership team as PrizePicks continues to innovate in the world of sports and culture predictions.”
According to Allwyn, the DFS operator’s “scalable technology platform and unique approach to engagement” made it stand out as a “highly attractive long-term partner” of the company.
PrizePicks appointed former Uber executive Nick Zabriskie as its new SVP of Public Affairs on December 2 to oversee national government affairs and advocacy efforts for the sports betting operator
