PrizePicks added new offerings across dozens of jurisdictions, with Team Picks live in 30 states and Washington, D.C., and Culture Picks live in 48 states and D.C., as Allwyn International AG completed its $1.533 billion investment for a 62.3% stake.
Allwyn, the lottery-led gaming entertainment company, said it has closed its previously disclosed agreement to acquire the majority position in PrizePicks, a daily fantasy sports operator in North America. The stake is subject to customary post-closing adjustments and excluding performance-based earnouts. PrizePicks had no outstanding loans or borrowings at closing, the companies said.
The transaction was initially announced on September 22, 2025.
“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. I look forward to working closely with Mike and the talented PrizePicks team to deliver even more compelling experiences for fans around the world,” said Robert Chvatal, Chief Executive Officer of Allwyn.
Within the PrizePicks app, Team Picks allows customers to make predictions on team-based outcomes rather than individual player performance. The company said the format is currently live in 30 states and the District of Columbia. PrizePicks also introduced Culture Picks, which lets customers predict outcomes tied to cultural and entertainment events, and is currently live in 48 states and D.C.
Since the original deal announcement, PrizePicks also launched a regulated prediction markets offering in November, which the companies said extended PrizePicks’ reach to nearly every US state. PrizePicks operates as a sports entertainment operator registered as a Futures Commission Merchant with the National Futures Association, positioning the company to scale under that framework.
PrizePicks has partnered with both Kalshi and Polymarket in relation to prediction markets offerings.
“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. Together, we will build on our strong momentum and deliver innovative products that deepen engagement with our growing community of players,” said Mike Ybarra, Chief Executive Officer of PrizePicks.
According to Adam Wexler, founder and PrizePicks board member, PrizePicks was built with a focus on its player community and that he sees alignment with Allwyn’s approach as the company enters its next phase.
“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,” said Wexler.
Allwyn said PrizePicks brings capabilities suited to markets where it is pursuing casual entertainment offerings. The companies said the partnership is intended to support long-term development while maintaining PrizePicks’ culture, leadership continuity and agility.
Original article: https://www.yogonet.com/international/news/2026/01/20/117222-allwyn-completes-acquisition-of-majority-stake-in-prizepicks-for-1533b
