Allwyn buys majority stake in fantasy sports operator PrizePicks for initial $1.6 billion

PRAGUE (Reuters) -Gaming entertainment group Allwyn International will acquire an approximately 62% stake in fantasy sports operator PrizePicks for an initial cash consideration of $1.6 billion, the company said on Monday.

Under the deal, which is expected to close in the first half of 2026, PrizePicks’ implied enterprise value could grow to $4.15 billion from $2.50 billion due to additional cash payable if it reaches certain performance metrics over the next three years.

(Reporting by Jason Hovet; Editing by Jan Harvey)