Reuters:

Allwyn International is poised to acquire a 62% stake in PrizePicks for an initial $1.6 billion, significantly expanding its presence in the U.S. gaming market. The acquisition of the American fantasy sports operator by the international lottery operator is anticipated to close in the first half of 2026. The deal structure incorporates potential increases to PrizePicks' implied enterprise value, commencing at $2.50 billion and potentially reaching $4.15 billion, contingent upon performance-based metrics. PrizePicks has demonstrated robust financial performance, reporting adjusted EBITDA of $339 million for the year ending in June. As part of the agreement, PrizePicks' co-founder will remain on the board of directors. Allwyn, the flagship company of Czech billionaire Karel Komarek's KKCG investment group, intends to finance the acquisition through a combination of cash and debt. The company, which recently assumed control of Britain's National Lottery, is undergoing rapid expansion. Komarek stated, "This acquisition will continue to drive Allwyn’s momentum and expand our business in the United States."