NEW YORK: European lottery giant Allwyn will acquire a majority stake in US fantasy sports operator PrizePicks in a deal that values the Atlanta-based company at US$1.6bil.
The move is a significant step in Allwyn’s strategy to expand beyond traditional lottery operations and deepen its presence in the US gaming market.
The transaction, which is expected to close in the first half of 2026, gives Allwyn a foothold in the fast-growing daily fantasy sports segment and positions PrizePicks as its primary platform for US expansion.
PrizePicks chief executive officer Mike Ybarra said the deal and Allwyn’s support would help the company expand in the United States and build a broader entertainment platform that could scale across sports, culture, and prediction markets.
“We are in 45 states now. It’s my prediction that we will be in 50 states across the board, and this will be broadly accepted and regulated in the United States,” Ybarra said in an interview.
Allwyn is the flagship of Czech billionaire Karel Komarek’s KKCG investment group and has expanded quickly in recent years, gradually diversifying into online gaming.
Last year, it took over the running of Britain’s National Lottery.
It also operates lotteries in Italy, Austria, Greece and the Czech Republic as well as interests in the United States.
Earlier this year, Allwyn announced a partnership with Formula One.
It holds a 36.75% stake in Kaizen Gaming, which operates the Betano brand, and in December 2024 agreed to acquire a 51% stake in Novibet, a Greek online betting firm. In the United States, it manages the Illinois State Lottery through Allwyn North America.
According to a Reuters investigation, the accessibility and gamified design of online platforms have contributed to a surge in problem gambling cases, particularly among younger users. Several US states have launched inquiries or imposed fines on operators over compliance and consumer protection issues. — Reuters
