Daily fantasy sports company PrizePicks is expanding its presence in Atlanta.
Last week, the company announced that it will build a new 33,000-square-foot expansion to its headquarters in Atlanta. The new HQ will be in the Star Metal Building in Midtown Atlanta.
It comes on the heels of an effort to fully legalize daily fantasy sports in Georgia. The legislation failed in the Georgia Senate last session.
Expansion means more jobs and economic boost
While daily fantasy sports (DFS) in Georgia aren’t technically legal, Georgians can enter into DFS contests. As in many other states, DFS exist in a gray area of the law, as their legality is not specified.
Atlanta-based PrizePicks is among the largest DFS operators in the US. Its continued investment in Atlanta is expected to bring a windfall to the state.
As part of the announcement, PrizePicks said it planned to expand its workforce with 1,000 new jobs over the next seven years. The estimated economic impact of the upgraded headquarters is $25 million, said Adam Wexler, PrizePicks co-founder and CEO.
“Atlanta has always been our home, where we are redefining mobile sports entertainment. This move to Star Metals will help us create more world-class, high-skilled and high-wage jobs in our great city while we deepen our connections across the community.”
Georgia Gov. Brian Kemp welcomed the news.
“Georgia continues to be a driver of tech growth and innovation, attracting innovative companies with its unique mix of talent and infrastructure. Today’s announcement is a reminder of our strength in both welcoming new projects as well as creating an atmosphere where existing businesses can expand and thrive. I look forward to seeing the impact of these thousand jobs on the Atlanta community.”
Katie Kirkpatrick, president and CEO of the Metro Atlanta Chamber, said the city has everything PrizePicks needs to grow.
“Congratulations to Adam Wexler and the team at PrizePicks for choosing Atlanta to expand their headquarters. Metro Atlanta has all the ingredients to help PrizePicks thrive, including diverse tech talent graduating from our leading colleges and universities, global connectivity through our airport, a large and engaged business community and a desirable quality of life.”
DFS remains a hot-button issue
This expansion for PrizePicks comes in the midst of a turbulent time for PrizePicks and fellow DFS operators.
This year alone, a handful of states have tried to curb DFS pick ’em-style games like those offered by PrizePicks. New York, Florida, Michigan and other states have slapped some operators with fines or cease-and-desist requests.
Several states have little or no laws governing DFS operations. Most allow companies to run their platforms without recognizing them legally. The Georgia DFS law that failed to gain traction this year is an extension of the decisions made by other states to avoid stepping into the gray waters of DFS play.
This makes the future of DFS murky. But PrizePicks obviously sees a place for the company in the future, evidenced by its announcement to expand its headquarters in Atlanta.
