Swiss-based lottery operator Allwyn has become a majority investor in Instant Win Gaming Limited (IWG).
Upon closing, the investment will give Allwyn a 70% stake in IWG’s operations. Stakeholders were informed that Allwyn will use existing capital to finance the investment.
Stepan Dlouhy, Allwyn Chief Investment Officer, said: “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.
“Rhydian and Simon bring a wealth of sector knowledge and creativity and we are excited to collaborate and explore new opportunities.”
It is expected that the deal, subject to customary closing conditions, will close in the second half of 2024. All current staff structures in place at IWG will remain the same, as Rhydian Fisher and Simon Bucknall, current IWG CEO and COO respectively, will maintain their duties.
IWG is a lottery supplier of online instant win games, with a strong market focus on North America but also boasts partnerships with 25 national and state lotteries globally. For the financial year ending 30 April 2023, IWG’s earnings before interest, tax, depreciation and amortisation were reported as £18.2m.
Rhydian Fisher, IWG CEO, added: “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 recently assumed control of the Fourth National Lottery Licence after Camelot’s 30-year tenure came to an end.