Considerations: DFS 2.0 Called Up to the Majors; Further Consolidation in the Cards

Join us for the second edition of Considerations, a collection of thematic reports from XST Capital Group’s senior advisors, designed to provide actionable insights on timely industry topics. In this edition, senior advisor Jesse Wachtel examines how Allwyn’s acquisition of PrizePicks marks a defining moment for the picks sector – and the start of a new consolidation era in U.S. gaming.

Jesse argues that, in the fragmented U.S. gaming landscape, consolidation is no longer optional. With DFS, sweeps, lotteries, sportsbooks, iGaming, and prediction markets each thriving or faltering depending on the state line, no single product can stand alone. He breaks down the current state of the U.S. market and examines the dynamics of key subsectors, to explain that as operators navigate tightening scrutiny and shifting legality, owning a diversified portfolio – spanning picks, sweeps, iGaming, and beyond – has become the only sustainable path forward.

This piece offers a clear lens on how consolidation, regulation, and strategic diversification are reshaping the U.S. gaming landscape. We think you’ll find Jesse’s perspective both timely and relevant to the conversations unfolding across the industry today. We hope you enjoy the read. Stay tuned for further editions of Considerations covering other prominent topics across the gaming ecosystem. Thanks for joining us and please feel free to reach out to us if you have any feedback.

Read the full report here: Considerations