Allwyn has announced it has launched a $1.64bn (£1.23bn) offering, with the funds earmarked to finance its acquisition of PrizePicks.

Last month, the lottery and gaming giant announced it had acquired a 62.3% stake in the US DFS operator for an initial cash consideration of $1.6bn.

The transaction is expected to complete in H1 2026, subject to standard closing conditions.

Ahead of completion, the UK lottery operator said the proceeds of the ‘Loan B’ offering will finance not only the acquisition but also the related fees and expenses.

Loan B is a type of institutional loan, typically with longer maturities and often used by companies to fund large acquisitions, refinancings or growth.

Alongside the announcement of the offering, Allwyn provided a brief trading update of its financial results for the first nine months of 2025, although it did not reveal any numbers.

The update read: “Since the start of the year, our business has continued to perform and develop well overall, although trading in September was affected by exceptionally customer-friendly sports results, which impacted sports betting margins, as seen industry-wide.

“In general, variation in sports betting margins due to customer/operator-friendly sports results averages out over time, and Allwyn’s diversification, particularly its significant exposure to lottery and other verticals, also reduces the impact of such fluctuations.

“Other than the impact from sports results in September, underlying trends remain positive.”

Allwyn followed up its acquisition of PrizePicks by announcing earlier this month it was merging with OPAP to form a €16bn entity, creating the second-largest listed gaming and entertainment company in the world.

The post Allwyn launches $1.64bn offering to finance PrizePicks acquisition first appeared on EGR Intel.