Allwyn Shells Out $1.5B for PrizePicks Stake: Devs, Time to Bet on Which Fantasy Sports App Crashes First?

Gaming firm Allwyn has completed its acquisition of a majority stake in fantasy sports operator PrizePicks, with the deal closing at $1.533 billion. The transaction marks a significant expansion of Allwyn's presence in the fantasy sports market, providing the company with a substantial foothold in the growing industry. PrizePicks, a leading fantasy sports platform, offers a unique gaming experience, allowing users to wager on the performance of athletes in various sports. The acquisition is expected to enhance Allwyn's portfolio and drive growth, leveraging PrizePicks' expertise and technology. The deal underscores the increasing consolidation in the gaming sector, as companies seek to expand their offerings and reach new markets. With this acquisition, Allwyn solidifies its position as a major player in the gaming industry, poised to capitalize on the rising demand for fantasy sports and online gaming. The completion of the deal is a notable development in the sector, highlighting the ongoing trend of strategic acquisitions and partnerships.