Cooley has served as legal advisor to PrizePicks in a transaction where Allwyn International will acquire a majority stake in the daily fantasy sports operator. The agreement sets an initial enterprise value of $2.5 billion for PrizePicks, with the possibility of increasing to $4.15 billion if certain performance targets are met over the next three years. The deal is expected to close during the first half of 2026.
The Cooley team advising PrizePicks included lawyers Kevin Cooper, Mike Lincoln, Vicky Kandabarow, Eileen Marshall, Paula Fleckenstein, Sarah Buchik, Dennis Craig, Eddie Sniezek, Asal Yunusov and Mariam Kamal.
“Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation,” according to a statement from the firm.
Cooley has handled several significant transactions in the sports and gaming sector through its sports+ initiative. In February 2024, Cooley advised Jackpocket on its acquisition agreement with DraftKings for $750 million. In May 2024, Cooley also represented PlayAGS in its agreement to be acquired by affiliates of Brightstar Capital Partners for $1.1 billion.
Cooley employs nearly 1,400 lawyers across 19 offices located in the United States, Asia and Europe. The firm’s total workforce exceeds 3,000 people.
The information provided by Cooley is intended for general informational purposes only and does not establish an attorney-client relationship or constitute legal advice.