Gaming firm Allwyn’s deal to acquire the majority stake in fantasy sports operator PrizePicks has been completed, closing at $1.533 billion.
Allwyn, best known for its lottery services, has finalized the deal to acquire PrizePicks, the leading fantasy sports operator in the US, at a 62.3% majority stake. The closing deal amount is $1.533 billion, excluding performance-based payouts and any post-close adjustments.
Allwyn, the Switzerland-based “lottery-led gaming entertainment company,” has announced it has closed its previously announced deal to buy a majority stake in DFS/prediction market operator PrizePicks for ~$1.5B (not including “performance-based earnouts”). pic.twitter.com/8COM0oca4Y
— Geoff Zochodne (@GeoffZochodne) January 16, 2026
The deal represents a push from Allwyn to expand into casual entertainment, with PrizePicks known for reacting quickly to market changes and expanding into new territories. The deal was first announced on September 22, 2025, swiftly followed by PrizePicks’ announcement of entering the prediction market sector in November.
“We are excited to support and participate in the next phase of PrizePicks’ growth,” said Robert Chvatal, Chief Executive Officer of Allwyn. “This investment advances Allwyn’s strategy to build a diversified global entertainment platform and significantly strengthens our presence in the United States. I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world.”
PrizePicks and Allwyn aim for growth in 2026
As well as expanding into more American markets throughout 2025, PrizePicks spent last year developing new features. That included Team Picks, where users can play based on team performance rather than just individual, and Culture Picks, where users can predict events related to culture and entertainment as well as sport.
“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,” said Mike Ybarra, Chief Executive Officer of PrizePicks. “Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players.”
The messaging from both the PrizePicks and Allwyn suggest that 2026 will be focused on more growth for both brands, with mention of using “their combined strengths to accelerate product innovation”.
“From the beginning, we built PrizePicks by putting our community first and focusing on delivering an industry-leading member experience,” said Adam Wexler, Founder and PrizePicks Board Member. “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.”
Featured image: Allwyn
The post Allwyn completes $1.5 billion deal to acquire majority stake in PrizePicks appeared first on ReadWrite.
