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Story summary
- Allwyn International will acquire 62.3% stake in PrizePicks for $1.6 billion, valuing PrizePicks at $2.5 billion; performance-based payments could lift total to $4.15 billion.
- PrizePicks retains its brand; CEO Mike Ybarra remains in charge.
- Closing is expected in the first half of 2026, subject to regulatory approval; PrizePicks posted $339 million adjusted EBITDA and 60% revenue growth through June 2025.
