A unified sportsbook platform supporting innovation and growth
Allwyn has a significant sports betting presence across multiple geographies, with Sports Betting Revenue from gaming activities (GGR) of over €800 million1. Bringing sportsbook technology in-house will give Allwyn ownership of a core strategic capability and enhanced flexibility to innovate and shape its product roadmap. It will also enable economies of scale from a common platform and the potential to maximise cross-selling and other synergies with Allwyn’s activities in adjacent product verticals, in particular with its substantial iGaming operations.
Kambi’s proven and scalable sportsbook technology is highly regarded, currently serving partners across more than 100 jurisdictions worldwide. The agreements with Kambi provide Allwyn with the capability to develop its own sportsbook platform through a global perpetual licence to Kambi’s source code, the first transaction of this type for Kambi. This will give Allwyn greater scope to differentiate its sportsbook offering through products and features tailored to local markets and evolving player preferences. Kambi has agreed to provide development and deployment services during a transitional period, leveraging its extensive experience in deploying sportsbook solutions across digital and retail channels in multiple markets. A dedicated team from Kambi will subsequently transfer to Allwyn to support the platform’s ongoing development.
The resulting in-house platform will provide a scalable foundation for growth across Allwyn’s existing sports betting operations, with optionality to expand into new markets.
Additional transaction details
The agreements with Kambi entail consideration of €50 million over the three years to 2029, which is expected to be capitalised, with approximately half anticipated to be incurred in 2027.
In parallel, Allwyn will build additional central sportsbook capabilities, including trading, pricing and risk management, which are expected to increase central costs by a low-tens-of-€millions amount annually, starting in 2027. Taking into account resulting savings in segmental costs in subsequent years, Allwyn’s plans to accelerate growth in Sports Betting, and opportunities for revenue synergies with other product verticals, particularly iGaming, the transaction is expected to deliver attractive financial benefits over time.
Acquisition of minority interest in IWG
Allwyn’s planned acquisition of the remaining 30% interest in IWG will give Allwyn full ownership of a leading digital content capability. IWG is a developer and supplier of e-instant games with a broad portfolio spanning multiple game categories and established relationships with lotteries across the United States, Europe and other international markets. In 2025, IWG delivered year-on-year Adjusted EBITDA growth of 30%2. Following the transaction, the founders of IWG will remain in their executive positions, ensuring continuity of leadership alongside the existing management team.
The acquisition of the remaining minority interest in IWG will also simplify Allwyn’s corporate structure and represents a further step in the execution of its inorganic growth strategy.
The planned transaction follows the exercise of a put option held by IWG’s minority shareholders and is for total consideration of approximately USD120 million (€107 million), based on a pre-determined valuation calculation, with the final amount subject to customary closing and working capital adjustments. Completion is expected in the first quarter of 2027.
Kresimir Spajic, Chief Executive Officer of Allwyn Digital, said:
“We are delighted to announce further progress in our strategy to own and manage key technology and content capabilities that enhance product innovation, differentiation and time to market, and support our ability to deliver a best-in-class customer proposition.
Our agreement with Kambi, leveraging its proven, scalable technology and deployment expertise to bring our sportsbook platform in-house, represents an important step in that strategy, giving us greater freedom to evolve our offering, tailor products to individual brands and markets, and build a scalable foundation to accelerate future growth.”
Werner Becher, Chief Executive Officer of Kambi, said:
“This agreement shows the quality and strategic value of the sportsbook technology Kambi has built over more than 15 years. A global market leader like Allwyn choosing our technology to unify its sportsbook operations reflects the strength of our product, our expertise and our track record of delivering at scale in regulated markets. It also brings Kambi significant long-term commercial value and shows how we can create additional value from the capabilities we have built, through strong, long-term partnerships.”
ENDS
1 In the 12 months ended 31 December 2025.
2 Adjusted EBITDA growth based on USD-denominated financial information.
Enquiries
Investor relations
email: ir@allwyn.com
Allwyn Press Office
email: pr@allwyn.com
About Allwyn
Allwyn is a multi-national gaming entertainment company, lottery-led and with leading market positions and trusted brands across Europe and North America, listed on Euronext Athens. Its purpose is to make play better for all by focusing on innovation, technology, player safety and returning more to good causes across a growing casual gaming entertainment portfolio. www.allwyn.com
About Kambi
Kambi is a leading provider of cutting-edge sports betting services to licensed B2C gaming companies, operating one of the world’s most powerful sports betting networks and delivering high-performance solutions through its Turnkey Sportsbook and Odds Feed+ products. Focused on regulated markets, Kambi harnesses the vast data its network generates to drive its proprietary AI-powered pricing, trading and technology capabilities, giving partners a proven competitive edge while empowering operators with the flexibility to create differentiated, compliant and revenue-driving sportsbook offerings. Kambi’s global network of more than 70 partners includes Bally’s Corporation, BetPlay, Hard Rock Digital, LiveScore Group, Ontario Lottery & Gaming Corporation and Rush Street Interactive, supporting their success across some of the world’s most competitive regulated markets.
Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol “KAMBI”.
The Company’s Certified Advisor is Redeye Nordic Growth AB.
About IWG
IWG is a leading supplier of digital e-Instant and instant win games to WLA and NASPL-member lotteries. It has over 20 years’ experience of making top selling, high quality games and the strategic know how to make them work. Each year, IWG develops more than 250 new InstantGames™ for its global base of lottery customers. Its games consistently perform at the highest level, engaging and retaining players while driving superior sales results. It has the knowledge to deliver winning game portfolios, and the experience to make them grow. IWG delivers an end-to-end solution covering all aspects of e-Instant development and portfolio management. The Company’s InstantRGS™ (remote game server) delivers its content in multiple regulated jurisdictions from data centers in the UK, Gibraltar, Canada and North America. It has a broad library available via its InstantRGS with games covering many proven themes and mechanics that can be developed into an ideal offering for a partner’s eInstant and/or instant win program.
Forward-Looking Statements
This announcement may include forward-looking statements regarding certain of Allwyn’s plans and our current goals, intentions, beliefs and expectations concerning, among other things, our future results of operation, financial condition, liquidity, prospects, growth, strategies, pending acquisitions or other transactions, financing plans and the industries in which we operate, as well as our estimates, beliefs or expectations concerning the future impact of certain present events and/or uncertainties . These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as “may,” “could,” “should,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “assume,” “believe,” “plan,” “seek,” “continue,” “target,” “goal,” “would” or their negative variations or similar expressions identify forward-looking statements. By their nature, forward-looking statements are inherently subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this announcement, including as a result of mitigating actions carried out by us or changing facts and circumstances in the future. In addition, even if our results of operations, financial condition and liquidity and the development of the industries in which we operate are consistent with the forward-looking statements contained in this document, those past results or developments may not be indicative of results or developments in future periods. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the annual report published by Allwyn International AG and other documents we publish on our website. Most of these factors are outside our control and are difficult to predict. We do not undertake any obligation to review, update or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this document.
This announcement does not represent an offer, constitute or form part of, and should not be construed as an advertisement, an offer or an invitation to subscribe for or to purchase securities of Allwyn or its subsidiaries or affiliates from time to time.
This update does not present all necessary information for an understanding of the Group’s financial condition as of the date of this release, or its results of operations for the year ended December 31,2026. As Allwyn completes its year-end financial close process and finalises its financial statements for 2026, it will be required to make significant judgments in a number of areas. It is possible that Allwyn may identify items that require it to make adjustments to the financial information set forth above and those changes could be material. This announcement does not form, and should not be construed as, the basis of any credit analysis or other evaluation, an investment or lending recommendation, advice, a valuation or a due diligence review.