Allwyn Announce the Purchase of 70% Stake in Online Developer IWG
LISTEN TO THIS ARTICLE:Multi-national lottery operator Allwyn has signed a partnership agreement with Instant Win Gaming to acquire a 70% stake in the online content provider.
Instant Win Gaming (IWG) is a top supplier of online, instant-win games and lottery titles. The company boasts a portfolio of over 259 games that are delivered to more than 25 national and state lotteries globally. The deal will see Allwyn take over the control of the multimillion-dollar company. In its last financial update for the year through April 30, 2023, IWG reported £18.2 million ($22.9 million) in EBITDA.
While the financial details of the transaction were not revealed Allwyn expects to finalize the gambling industry acquisition in the second half of the year. The operator plans to fund the investment through its current financial assets.
Allwyn’s agreement with IWG will enable us to create and leverage high-quality content throughout the group. This demonstrates our ambition to deliver the best user experience to players across our international markets and to be the operator of choice.
IWG’s Leadership Remains Unchanged
As per the agreement, IWG co-founders Rhydian Fisher and Simon Bucknall will retain their current positions within the company even after Allwyn’s takeover. Fisher will remain its CEO, while Bucknall will continue as Chief Operating Officer.
We are thrilled to be partnering with Allwyn to take IWG’s success and proposition to the next level. Allwyn’s deep expertise and knowledge of the lottery consumer will help us to deliver immediate and significant value for our existing partners, while this step will also create new opportunities for the brilliant games our team develops.
Allwyn Officially Becomes UK National Lottery Operator
The development follows Allywn’s recent official takeover of the UK National Lottery. The operator succeeds Camelot, who has been in charge of the National Lottery since its establishment in 1994.
Allwyn plans to implement various changes to the lottery in the coming years, including expanding the National Lottery's retail presence and introducing new technologies to modernize the platform.
The National Lottery has raised more than £48 billion for charitable causes, contributing to sectors like arts, sport, heritage, and communities.
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