PrizePicks Drives Allwyn North America Revenue Up Fivefold In Q2
Allwyn AG's North America business, which now includes the daily fantasy sports operator PrizePicks, posted a more than tenfold jump in Adjusted EBITDA in the second quarter of 2026, the lottery-led gaming group said in preliminary results published on August 27, 2026.
The Details
North America Net Revenue rose to €294 million in the quarter, up from €54 million a year earlier, while Adjusted EBITDA for the region climbed to €104 million from €9 million, according to Allwyn's own financial review.
The company said the increase was driven "significantly" by the consolidation of PrizePicks, which Allwyn completed its acquisition of a 62.3% stake in on January 16, 2026, for an initial cash consideration of $1,533 million.
At the group level, Allwyn reported Net Revenue of €1,246 million for the quarter, up 27% year on year from €979 million, and adjusted EBITDA of €458 million, up 29% from €355 million. The Group's Adjusted EBITDA margin held at 36.8% of Net Revenue.
Robert Chvatal, Allwyn's chief executive, said the quarter reflected "the strength of our strategy and our success in executing it, as demonstrated by sustained momentum in Continental Europe and the contribution from PrizePicks."
He added that, stripping out PrizePicks and adjusting for higher gaming taxes in Austria, underlying Net Revenue growth was 5% year on year, supported by online sports betting and iGaming activity tied to the 2026 FIFA World Cup.
Context
On a standalone basis, PrizePicks' own Net Revenue grew 3% year on year in constant currency terms, Allwyn said, with underlying operating trends partly offset by "exceptionally operator-friendly sports outcomes" in the comparative period.
The company also noted that PrizePicks' World Cup marketing investment weighed on its standalone profitability during the quarter, as it builds a larger player base heading into the second half of the year.
Allwyn's United Kingdom business, which operates The National Lottery, returned Adjusted EBITDA of €23 million, up from €6 million a year earlier, which the company attributed to improved profitability following the completion of the lottery's technology transformation earlier in 2026. UK Net Revenue rose 3% year on year to €236 million.
Continental Europe remained the group's largest segment by Net Revenue at €731 million, up 4% year on year, or 6% excluding the impact of higher Austrian gaming taxes introduced in mid-2025.
What Comes Next?
Allwyn reaffirmed its full-year 2026 outlook of Net Revenue growth in the mid-to-high 20% range and an Adjusted EBITDA margin of approximately 37%.
The Board also declared an interim distribution of €0.20 per share, to be paid on November 12, 2026, in addition to a share buyback programme under which the company had repurchased 6,538,301 shares for €89 million as of August 21, 2026.
Allwyn's acquisition of PrizePicks, first agreed in September 2025 at a $2.5 billion valuation, marked the lottery operator's largest-ever deal and its entry into the US daily fantasy sports and prediction markets space.
Gambling.com's news section will continue to follow the group's next quarterly update as PrizePicks' contribution to Allwyn's online casino and betting portfolio comes up against tougher year-on-year comparisons in the second half.
