Financial details of the transaction were not disclosed, but the investment comes amid a new partnership between the companies that will see Allwyn introduce IWG titles to its operations.
For example, the companies are expected to collaborate “to supplement and complement each other’s business” in the UK, where last week Allwyn began operating the National Lottery under its fourth licence.
The investment is expected to close during the second half of 2024, and will be funded with Allwyn’s existing financial resources.
IWG reported EBITDA of £18.2m in the financial year ended 30 April 2023.No changes will be made to IWG’s team as a result of the investment, and co-founders Rhydian Fisher and Simon Bucknall will continue in their roles as CEO and COO respectively.
“Allwyn’s agreement with IWG will enable us to create and leverage high-quality content throughout the group,” said Allwyn’s chief investment officer Stepan Dlouhy (pictured).
“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.”
Rhydian Fisher, CEO of IWG, 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.”