Allwyn Completes Successful Syndication of Acquisition Financing for PrizePicks
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Allwyn International AG announced the successful syndication of a USD 1.5 billion financing for the acquisition of PrizePicks.
The financing comprises a seven-year Term Loan B facility in the principal amount of USD 1000 million, with Allwyn Entertainment Financing (US) LLC as borrower, and a six-year Term Loan A facility with a syndicate of banks in the principal amount of USD 500 million.
The new USD term loan B facility will bear interest at SOFR plus 250bps. Both the new term loan facilities will rank pari passu with the existing debt of Allwyn International AG, Allwyn Entertainment Financing (UK) Plc and Allwyn Entertainment Financing (US) LLC, under the existing intercreditor agreement.
Proceeds from the new facilities, together with cash on balance sheet and facilities already in place, will be used to finance the planned acquisition of PrizePicks and related fees and expenses. On 22 September 2025, Allwyn announced it had entered into a definitive agreement to acquire approximately 62.3% of PrizePicks, the largest daily fantasy sports operator in North America. The initial cash consideration is USD 1.6 billion, subject to customary post-closing adjustments and based on an expectation of nil cash and nil debt at closing. The transaction is expected to close in the first quarter of 2026, subject to the satisfaction of certain closing conditions, including notifications to and/or approvals from applicable regulatory authorities.
Kenneth Morton, CFO of Allwyn, said: “I am very pleased to have successfully syndicated our largest offering to date in the USD institutional term loan B market, demonstrating continued investor support for the Allwyn credit and confidence in our outlook.
“We are looking forward to the closing of the planned PrizePicks acquisition, an exciting step in our growth strategy and expansion of our footprint in the US market.”
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