Atlanta-based PrizePicks has chosen the former president of Blizzard Entertainment as its new CEO.
Mike Ybarra’s career spans more than two decades in technology, gaming, and entertainment. He most recently guided Blizzard, developer of iconic games like Overwatch, Diablo, and Warcraft. He also previously oversaw the Xbox product as corporate vice president at Microsoft.
There’s been speculation that hiring Ybarro could mean the daily fantasy sports operator is considering expanding into the sports betting industry.
PrizePicks has been exploring merger and acquisition options
Should PrizePicks decide to operate a sportsbook, it wouldn’t be able to do so in its home state, as Georgia sports betting remains illegal despite efforts at the General Assembly to change that. Daily fantasy sports (DFS), however, is tolerated in the Peach State, though, it too, is not specifically legal.
Georgia’s north and south neighbors, Tennessee and Florida, allow sports betting, while bordering states on the east and west, Alabama and South Carolina, have not legalized sportsbooks.
There has been speculation that PrizePicks will join the sports betting industry, following the paths taken by DFS competitors DraftKings and FanDuel. The company has admitted it has explored both merger and acquisition strategies.
Recently, the company hired an investment firm to analyze its growth options. One of the markets PrizePicks has explored for expansion is esports. In a June press release, PrizePicks noted that the game CounterStrike 2 ranked fourth of all sports in entry fees and signups. The only sports outperforming CS2 were basketball, football, and baseball. Such interest in esports DFS contests led the company to form the PrizePicks esports lab, where users can learn about the sport, watch live feeds of matchups, and build esports DFS lineups.
Ybarra’s experience as head of Blizzard, creator of Overwatch, a major esports offering, could be a perfect fit for such an endeavor.
Even with the emphasis on esports DFS, its unknown if PrizePicks plans to keep expanding its DFS products or make the jump into sports betting.
Former PrizePicks CEO will advise Ybarra
The former CEO and co-founder of PrizePicks, Adam Wexler, will move into a new role as executive chairman and advisor to Ybarra. He touted his team at PrizePicks on Linked In when announcing his transition.
“I’m extremely proud of our team and partners, all of whom helped to disrupt this industry and pioneer a new path for the DFS space. Together, we achieved explosive growth and have created a highly engaged community of fans around the country. It’s been a privilege to lead so many talented, innovative, and driven colleagues.”
Wexler called Ybarra a “world-class leader” and “the perfect person to lead our team as we build this rocket ship into a sports and culture entertainment brand which can outlast our lifetimes.”
Ybarra said he is looking forward to his new role.
“PrizePicks is the most exciting company in sports entertainment today, and it’s an honor to join as CEO. I have tremendous respect for the foundation that Adam has built and look forward to working with him and the team.”