Reported 1 day ago
Allwyn, a Swiss gaming company, has announced its agreement to purchase a 62.3% stake in PrizePicks for $1.6 billion, valuing the daily fantasy sports platform at $2.5 billion. This move comes as the U.S. gaming landscape evolves, blurring the lines between sports betting and fantasy sports, allowing companies like PrizePicks to thrive. PrizePicks, which has seen significant growth, plans to continue operating as an independent brand under Allwyn's ownership, with future performance potentially raising its value to $4.15 billion.
Source: YAHOO