Allwyn International AG has successfully concluded a significant agreement worth $2.5 billion to acquire a controlling interest in PrizePicks, the largest daily fantasy sports platform in North America.
This transaction represents Allwyn’s most substantial investment in the United States to date and establishes the European lottery leader as a formidable player in the expanding sports entertainment sector. It offers PrizePicks new avenues for growth, bolstered by Allwyn’s global expertise and resources.
The terms of the agreement reveal the short-term and long-term goals of both companies. Allwyn plans to initially invest $1.6 billion in cash to gain approximately 62.3 percent ownership of PrizePicks, effectively valuing the enterprise at $2.5 billion. The arrangement includes standard post-closing modifications, and performance-related incentives could potentially elevate the total transaction value to $4.15 billion by 2029.
PrizePicks is entering this agreement on a positive trajectory, having achieved over 60 percent growth year-over-year and reported $339 million in adjusted EBITDA for the 12 months ending June 2025. The platform reaches over 45 U.S. jurisdictions, engaging millions of active users monthly, solidifying its position as a leading daily fantasy sports platform. Since its inception in 2015, PrizePicks has distinguished itself with innovative game formats, peer-to-peer tournaments, and free-to-play experiences, fostering a devoted community of sports enthusiasts across the country.
For Allwyn, this purchase serves as a vital entry point into the U.S. sports and entertainment landscape, complementing its established operations with the Illinois Lottery and aligning with its aim to become the premier casual gaming entertainment firm globally.
Both companies share a dedication to technology-driven innovation, responsible gaming practices, and fostering robust community relationships, making this partnership strategically advantageous. With Allwyn’s expansive resources, PrizePicks is positioned to broaden its offerings, expedite innovation, and deliver its games to an even wider audience while maintaining a strong focus on its fan base.
This agreement emphasizes the fast-growing fantasy sports industry and the ongoing consolidation within the gaming and entertainment sectors, as global players adapt to the changing preferences of contemporary sports fans. Allwyn’s investment reflects confidence in the future of daily fantasy sports and PrizePicks’ pivotal role in transforming digital fan engagement.
