00:00price picks also making some news as far as some leadership is concerned does this
00:03have anything to do with with the prediction markets i would say it's definitely not a
00:08coincidence that on the same day the price picks announced that they're going to do prediction
00:12markets they also announced they're selling the majority stake in their company 62 to this
00:17european lottery company called alwin uh which is deems them which gets them 1.6 billion dollars
00:23in cash that's how much the sale was for and it values price picks at two and a half billion
00:28dollars uh which is pretty interesting that's more than cal she has been valued at that's more than
00:32underdog so it's it's getting this huge valuation at this time that it's announcing that it wants to
00:38go beyond pick up daily fantasy sports and beyond sports betting even so there's a number of incentives
00:44in the deal as well that could make this go up to four billion dollars by 2029 prize picks in the
00:49meantime will continue to be run independently by ceo mike yabara as well as the founder adam wexler
00:56but it's now under this umbrella of this larger european lottery company which gives a lot more
01:02kind of financial reach this is a company that owns the company that runs the uk lottery they
01:08own the company that runs the illinois lottery as well as a lot of different sports betting operations
01:13across europe so it gives this kind of heft to prize picks this company it also gave us the first
01:18opportunity to look at what they're really doing we saw that they grew revenue 60 percent last year
01:24um and has registered over 20 million users which is quite a lot of people in the sports betting and
01:30fantasy sports space so yeah prize picks continues to grow and in the meantime they get the huge um
01:36dollar billion dollar figure out of the sale and we'll see what happens with the prediction markets
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