Allwyn, the flagship multinational lottery firm based in Switzerland, is excited to reveal that it has officially entered into a new partnership with Instant Win Gaming Ltd. (IWG), the flagship supplier of iGaming content to the lottery industry based in the UK, to strengthen its array of content available to players.
Strengthening its content offering:
The main objective of the alliance is to leverage IWG’s remarkable experience as a supplier of online instant win games for lotteries to enhance Allwyn’s entire portfolio of games. In addition, the said alliance will also include close cooperation with the co-founders of IWG, Simon Bucknall and Rhydian Fisher, to drive innovation and explore and work on the fresh possibilities in the online instant win games sector.
Commenting on the alliance, Chief Investment Officer at Allwyn, Stepan Dlouhy, 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.”
Also commenting on the alliance, CEO at IWG, Rhydian Fisher, said according to the official press release: “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.”
Furthermore, the aforementioned lottery operator has officially agreed to put money in IWG. The investment structure includes Allwyn’s purchase of a 70% stake in IWG’s business, using its own pre-existing financial resources.
Formal conclusion of the investment is projected to happen in the 2nd half of the current year and is subject to the fulfillment of usual closing conditions. Additionally, the mentioned investment won’t bring about a significant change in the structure of the IWG team, meaning that the aforementioned co-founders will be able to remain in their positions as COO and CEO, individually.
Relatedly, IWG revealed earnings prior to the amortization, depreciation, tax and interest of £18.2 million for the FY which ended April 30 last year.
IGT Dismisses Legal Challenge About 4th UK National Lottery License:
In other news, it was recently reported that International Game Technology (IGT) has decided to withdraw its legal challenge over the ruling that Allwyn is chosen to be awarded the 4th UK National Lottery license.
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