Allwyn to Acquire Majority Stake in U.S. Fantasy Sports Operator PrizePicks for $1.6 Billion
- Rahaman Hadisur
- Sep 26
- 2 min read
Hadisur Rahman, JadeTimes Staff
H. Rahman is a Jadetimes news reporter covering Business
International lottery operator Allwyn International has agreed to acquire a 62% stake in U.S.-based fantasy sports platform PrizePicks for an initial cash consideration of $1.6 billion. The deal underscores Allwyn’s ambition to expand its footprint in the fast-growing American gaming market.
According to the agreement, the transaction is expected to close in the first half of 2026, subject to regulatory approvals. PrizePicks’ enterprise value, currently implied at $2.5 billion, could rise to as much as $4.15 billion over the next three years if the company meets agreed performance milestones.
Allwyn, the flagship of Czech billionaire Karel Komarek’s KKCG investment group, has accelerated its global expansion in recent years. In 2023, it assumed control of Britain’s National Lottery, one of the largest lotteries worldwide, and currently operates across Italy, Austria, Greece, and the Czech Republic. Earlier in 2025, the company also announced a high-profile partnership with Formula One, further strengthening its international brand presence.
“This acquisition will continue to drive Allwyn’s momentum and expand our business in the United States,” Komarek said in a statement.
Founded in 2015, Atlanta-based PrizePicks has emerged as one of the leading fantasy sports operators in the United States. The platform counts millions of monthly active users across multiple states and has reported rapid growth. In the 12 months to June 2025, it generated adjusted EBITDA of $339 million, reflecting revenue growth of more than 60% year-on-year and strong cash flow generation.
Allwyn confirmed that the acquisition will be financed through a combination of existing cash reserves and new debt. PrizePicks’ co-founder Adam Wexler will remain involved in the business, continuing to serve on the company’s board of directors following the deal’s completion.
The transaction positions Allwyn to capitalize on the expanding U.S. gaming and fantasy sports sector, a market that has seen explosive growth with the legalization of online betting in multiple states. Industry analysts note that Allwyn’s entry could intensify competition in a space currently dominated by established players such as DraftKings and FanDuel.
If the performance targets are met, the acquisition could mark one of the largest cross-border deals in the fantasy sports industry to date, highlighting both the sector’s potential and Allwyn’s determination to cement its role as a global gaming leader.
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