Allwyn is in the midst of major growth, aiming to transform from a primarily lottery-focused enterprise into one of the largest multi-channel gaming giants worldwide. Leading this charge is Kresimir Spajic, who took on the role of digital CEO at Allwyn in September last year. Spajic credits billionaire founder Karel Komárek for inspiring this ambitious vision. “Karel’s vision for Allwyn goes beyond gaming—he’s steering us towards being a digitally led entertainment company,” Spajic remarked during an interview in Marbella. Over the past year, Allwyn has aggressively expanded through major mergers and acquisitions. Noteworthy deals include its merger with Greek lottery giant OPAP, now listed on the Athens Stock Exchange, and the $1.6 billion acquisition of PrizePicks to bolster its presence in North America.
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Allwyn’s M&A Strategy and Future Plans
Spajic confirmed that Allwyn is actively pursuing more acquisitions to sustain its global growth strategy. While acknowledging ongoing discussions for potential mergers, he emphasized there’s no rush to finalize any deals. “We’ve got discussions underway, but we want to ensure any deal aligns with our goal of being the leading digital entertainment company,” he stated. The ever-evolving gaming industry demands innovation to avoid obsolescence, a challenge Allwyn plans to meet head-on with strategic acquisitions. Why recent talks with Novibet didn’t pan out for Allwyn remains fresh in industry discussions. Spajic noted, “Technology, talent, and market penetration were key considerations.” Unfortunately, feedback from the Hellenic Competition Commission led to a decision that the deal couldn’t meet all parties’ expectations. “It looked positive for all involved—Novibet, us, and even the Greek market—but ultimately, the value proposition just didn’t hold up,” he explained.
Reflecting on Novibet and Looking Ahead
The Novibet deal unraveled due to conditions that couldn’t uphold the transaction’s value post-negotiation, a move partly influenced by regulatory feedback. Spajic mentioned that Allwyn is exploring alternative M&A options and reassessing its portfolio to either expand into underdeveloped regions or strengthen areas lacking in its current lineup. “We’re continuously scouting for acquisitions that enhance our capabilities,” he said. Market observers will find it no surprise that Allwyn’s strategic ambitions extend to both tuck-in acquisitions and new market entries. Spajic praised Allwyn’s investment team as one of the smartest in the industry, unwaveringly focused on executing the company’s growth strategy. Meanwhile, Allwyn isn’t just counting on inorganic growth. The company is simultaneously boosting internal capacities, aiming for improved operational efficiency. “We see growth as a dual path—M&A alone isn’t enough. We’re also enhancing organic growth by optimizing operations and boosting internal capabilities,” Spajic concluded.
Next Steps for Allwyn
With ongoing exploration of mergers and growing internal efficiencies, Allwyn’s next strategic moves remain closely watched. While specifics of future deals are still under wraps, the company’s commitment to expanding its reach and capabilities is clear. A more detailed profile of Kresimir Spajic’s vision and leadership is set to be published on iGB soon, offering further insights into one of the industry’s most ambitious growth stories.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
