Overview

• The cash purchase implies a $2.5 billion enterprise value, with an earnout that could lift it to an implied $4.15 billion based on three-year performance.
• PrizePicks will continue as a standalone brand under current leadership, with CEO Mike Ybarra staying and co-founder Adam Wexler remaining on the board.
• Allwyn says it will fund the acquisition with a mix of cash and debt and characterizes it as its largest U.S. investment to date.
• PrizePicks reported adjusted EBITDA of $339 million for the year to June 2025 and operates its daily fantasy contests in roughly 45 states.
• A PrizePicks affiliate, Performance Predictions II LLC, is now CFTC-registered as a futures commission merchant and approved as an NFA member, signaling a potential path toward prediction-market products.