Daily fantasy sports operator PrizePicks had a ribbon-cutting ceremony last week to celebrate its new headquarters in Atlanta, Georgia. Company executives were joined by state and local politicians for the landmark event.
Let’s take a closer look at the details and how this might impact top-rated sportsbooks in the region.
Economic Boost
PrizePicks bills itself as “the largest daily fantasy sports operator in North America,” and it found a new home in the Peach State. Their new digs are located in the Star Metals Building in Midtown Atlanta, and after renovations were completed on the 33,000-square-foot, $25 million building, company suits and politicians were on hand for a ribbon-cutting ceremony last week.
“This marks a major milestone for PrizePicks as we celebrate a new chapter of growth. I’d like to extend my thanks to Governor and First Lady Kemp for their continued support as we look to further the city’s mission of becoming a major tech hub in the U.S.,” commented the company’s CEO, Mike Ybarra. “Not only do we see massive opportunity to foster homegrown talent in the state, but also to attract the top minds in tech from around the country.”
Deloitte’s 2024 Technology Fast 500™ chose PrizePicks as one of North America’s 500 fastest-growing technology, media, fintech, energy tech, and telecommunications companies. The company was also included in Inc. 5000’s 2023 rankings as the fastest-growing sports company in North America. The move is expected to bring approximately 1000 jobs to Atlanta and boost the local economy.
“Arena” Launches
Pick’em Arena is PrizePicks new offering, allowing peer-to-peer betting on its platform, which allows it to remain under the auspices of daily fantasy sports and not bookmaking. Those lines have been blurred in the past when PrizePicks was operating as the house, but now that it has shifted formats to peer-to-peer, the reception by regulatory bodies has been far more welcoming.
The most recent launches in Delaware and Missouri now bring the total to 43 states, Washington D.C., and all Canadian provinces except Ontario, where PrizePicks is operating.
“Arena is a peer-to-peer game played against other players rather than against the house,” said a PrizePicks spokesperson. “This model of games of skill was not subject to scrutiny in Florida. While we prefer state codification for all fantasy games of skill rather than the common law, we look forward to working with policymakers to protect the DFS games sports fans across Florida love.”
