Allwyn has shared its Q1 earnings, revealing that the company recorded €1.2 billion in quarterly net revenue, driven by its acquisition of fantasy sports operator PrizePicks....
Allwyn acquires PrizePicks for $1.6 billion
Allwyn has completed the acquisition of a 62.3% share in PrizePicks for $1.6 billion, marking an important expansion move for the company.
The deal is part of Allwyn’s strategy to evolve into more than traditional lottery operations and strengthen its position in the digital entertainment products market.
Allwyn CEO Robert Chvatal said:
“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.”
At the time of acquisition, PrizePicks had no outstanding debt, which gave Allwyn a clean balance sheet position and immediate access to the growing digital platform.
PrizePicks operates in U.S. markets where there is high demand for short prediction-based experiences. Both PrizePicks and Allwyn pay a lot of attention to proprietary technology, regulatory compliance, and responsible play standards, which are necessary requirements for long-term growth in such scrutinized sectors, as Allwyn states.
PrizePicks is registered as a Futures Commission Merchant with the National Futures Association, which allows it to offer prediction-style products under regulatory supervision. This aligns with Allwyn’s criteria of operating only within regulated frameworks.
Additionally, PrizePicks has started collaborations with Kalshi and Polymarket, further improving its position in the prediction markets sector.
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