Allwyn Finalises $1.5B Acquisition of PrizePicks, Supercharging U.S. Gaming Footprint

European lottery and gaming operator Allwyn has completed its highly anticipated acquisition of a majority stake in PrizePicks, a leading U.S. daily fantasy sports (DFS) platform, in a deal valued at roughly $1.5 billion. The transaction, which sees Allwyn take a 62.3% controlling interest, represents a strategic pivot for the lottery operator into the broader sports gaming and predictive entertainment market.

The acquisition, first announced in September 2025, finalises Allwyn’s ambitions to significantly grow its presence in the North American gaming ecosystem. PrizePicks will continue to operate as an independent brand, retaining its current leadership under CEO Mike Ybarra, who will remain at the helm as the business scales under the new ownership structure.

Allwyn’s entry to the U.S. via PrizePicks marks a notable diversification beyond traditional lottery operations. The company already has a foothold in the American market through its supply role with the Illinois Lottery  driven in part by its earlier acquisition of Camelot Lottery Solutions. Now, with PrizePicks’ engaged user base and growing footprint in prediction markets, Allwyn is poised to capitalise on evolving consumer behaviours that blend fantasy sports with event contract trading.

PrizePicks itself has been carving out a unique space in the intersection of DFS and predictive markets. With approval from the National Futures Association to operate as a futures commission merchant, the platform offers users a mix of sports event contracts and cultural or political event contracts  available across dozens of states and the District of Columbia. The model has resonated with both casual and seasoned players, expanding the traditional fantasy sports audience.

Allwyn CEO Robert Chvatal described the closing of the deal as “a defining moment,” highlighting the company’s long-term strategy to broaden its entertainment ecosystem and deepen engagement with a dynamic and youthful demographic. Ybarra echoed that sentiment, emphasising the value of Allwyn’s operational expertise and global scale as catalysts for PrizePicks’ next phase of product innovation and market expansion.

The transaction signals a maturing phase of consolidation for the DFS and broader gaming industry in the United States. With increasing regulatory clarity and rising consumer demand for predictive and interactive gaming products, Allwyn’s bold investment positions it as a heavyweight competitor alongside entrenched DFS operators and sportsbooks.