Allwyn International has entered into a definitive agreement to acquire a majority stake in daily fantasy sports operator PrizePicks.
Allwyn, a lottery-led gaming entertainment company with market positions in the UK, Austria, the Czech Republic, Greece and Cyprus, and Italy, said Monday it had agreed to take an approximately 62.3% stake in PrizePicks.
The expected initial cash consideration for Allwyn’s acquisition is US$1.6 billion, subject to customary post-closing adjustments.
In addition, the selling shareholders of PrizePicks may receive up to US$1 billion in 2029, based on performance metrics during 2026-28, which could increase the implied enterprise value to a maximum of $4.15 billion.
