Atlanta-based PrizePicks has named Mike Ybarra, former president of Blizzard Entertainment, as its new CEO. Ybarra brings over two decades of experience in technology, gaming, and entertainment, having previously led Blizzard, the studio behind iconic titles like Overwatch, Diablo, and Warcraft. He also held a key role at Microsoft, overseeing the Xbox product as corporate vice president.
Ybarra’s hiring has sparked speculation that PrizePicks, a leader in daily fantasy sports (DFS), may be considering an expansion into the sports betting industry. This move would follow the trajectory of DFS competitors like DraftKings and FanDuel, both of which have entered the sports betting market.
PrizePicks Eyes Growth Through Mergers, Acquisitions, and Esports
Although PrizePicks cannot currently operate a sportsbook in its home state of Georgia, where sports betting remains illegal, the company has been actively exploring merger and acquisition opportunities. PrizePicks has also hired an investment firm to assess its growth options, with one of the more intriguing areas of expansion being esports. In a June press release, the company revealed that CounterStrike 2 ranked fourth in entry fees and signups among all sports on its platform, behind only basketball, football, and baseball.
The growing interest in esports DFS has led to the formation of the PrizePicks esports lab, where users can watch live esports events, learn about the games, and create DFS lineups. Ybarra’s background at Blizzard, particularly with Overwatch, a leading esports title, positions him well to drive this initiative forward.
Despite PrizePicks’ focus on expanding its DFS offerings, there is still uncertainty about whether the company will eventually leap into the sports betting industry. Former CEO and co-founder Adam Wexler will remain involved as an executive chairman, advising Ybarra during this transition. In a statement, Wexler expressed pride in the company’s achievements and called Ybarra “the perfect person to lead our team” as they aim to grow PrizePicks into a lasting sports and culture entertainment brand.
Ybarra also shared his excitement about the new role, stating, “PrizePicks is the most exciting company in sports entertainment today, and it’s an honor to join as CEO. I look forward to building on the strong foundation that Adam has created.”
Sourse : https://www.playgeorgia.com/news/prizepicks-eying-expansion-ceo-pick/
