PrizePicks deal adds €231M as Allwyn revenue climbs 27% to €1.2B
What's the deal? Allwyn's majority stake in daily fantasy sports (DFS) operator PrizePicks drove second-quarter growth, adding €231m (£198m) in revenue that wasn't present a year earlier. Group revenue rose 27% to €1.2bn, with EBITDA up 29% to €458m and profit after tax up 35% to €239m.
What each side brings: Allwyn is a Switzerland-domiciled gambling group, listed on Euronext Athens and majority owned by Czech investment group KKCGDealroom has a profile for this one. Try Dealroom →. PrizePicks is one of two major US DFS providers alongside Underdog, and a newcomer to the growing prediction market sector.
Why it matters: The takeover reshaped Allwyn's product mix, making sports and gaming its key growth drivers. North American revenue reached €294m, up from €54m — almost entirely attributable to integrating PrizePicks.
What the numbers say: Continental Europe remains the biggest region, with revenue up 4% to €731m, though adjusted EBITDA slipped 3% to €293m, partly on a new Austrian tax regime. UK revenue rose 2% to €236m, while EBITDA jumped to €23m from €6m.
By product, net gaming revenue hit €1.1bn, up 29%. DFS contributed €231m, iGaming €147m (up 24%), and sports betting €145m (up 12%). Lotteries slipped 2% to €498m and casinos fell 2% to €135m.
What could go wrong? The acquisition lifted gross debt, though revenue growth more than offset it. In the UK, Allwyn faces pressure to double weekly returns to good causes to £60m by the end of its 10-year licence in 2034, and it has drawn scrutiny from anti-gambling MPs.
What's the endgame? Allwyn is still hunting a sportsbook acquisition after regulators blocked its bid for Greek firm NovibetDealroom has a profile for this one. Try Dealroom →. It retains a major Greek presence through its merger with OPAPDealroom has a profile for this one. Try Dealroom → and a stake in Kaizen GamingDealroom has a profile for this one. Try Dealroom →'s BetanoDealroom has a profile for this one. Try Dealroom →.
Chief Executive Officer Robert Chvatal said the results reflect "the strength of our strategy and our success in executing it," citing PrizePicks' contribution and "sustained momentum" in continental Europe.
The signal: Allwyn's quarter shows how established lottery operators are pushing into sports betting, iGaming, and DFS to find growth. With lotteries and casinos flat, the PrizePicks deal signals where the company — and the wider gambling industry — sees its future.
Image credit: Generated with Gemini
