The UK National Lottery operator Allwyn Entertainment has completed its $1.5bn majority stake takeover of daily fantasy sports (DFS) giant PrizePicks.
Allwyn announced late last week that it had closed the deal for a 62.3% stake in PrizePicks, making the Switzerland-based firm the majority owner of one of the US’s leading gaming brands.
The deal, which Allwyn and the Georgia-based gaming company initially announced in September 2025, includes potential for additional financial payouts if PrizePicks hits certain performance-based milestones. DFS Editor Mike Maher took to X with news of the acquisition, while suggesting Allwyn’s move could be about prediction market business:
Via a deal with Polymarket, PrizePicks offers sporting event contracts in 30 states and Washington, D.C., and cultural, political, and entertainment prediction markets in 48 states and D.C.
PrizePicks founder Adam Wexler said that his brand was built on “putting our community first” and that he was excited to work with the Allwyn executives, “as PrizePicks continues to innovate in the world of sports and culture predictions.”
“significantly strengthen” its US gaming footprint.
Allwyn CEO Robert Chvatal said that while the European lottery giant was excited about PrizePicks’ potential, the deal is also on point with Allwyn’s strategy to build a diversified global entertainment platform and “significantly strengthen” its US gaming footprint.
According to reports, despite Allwyn’s controlling stake, PrizePicks will continue as a standalone brand, with Mike Ybarra remaining CEO.
Ybarra said the deal’s finalization marked “a defining moment” for the DFS brand, and that Allywn’s global reach, operational prowess, “and long-term approach make them an ideal partner as we continue to grow and evolve.”
