European lottery giant Allwyn acquires $1.6bn stake in PrizePicks to enter the US fantasy sports market

European lottery giant Allwyn International is set to acquire a major stake in PrizePicks. The deal, announced on September 22, 2025, will give Allwyn a 62.3% ownership. The initial investment is $1.6 billion. This acquisition marks Allwyn’s entry into the US Daily Fantasy Sports market. PrizePicks will continue operating independently. The current CEO, Mike Ybarra, will remain in charge.