Allwyn

What Allwyn does

Allwyn is a multi-national lottery-led entertainment company that operates and supplies draw-based lottery games, instant win games, scratch cards, iGaming, retail casino, and sports betting products across five primary markets — Austria, Greece and Cyprus, the United Kingdom, Czech Republic, and North America. Following its March 2026 €16bn all-share combination with OPAP S.A., Allwyn became the second-largest listed gaming operator globally, and through the January 2026 acquisition of a 62.3% stake in PrizePicks it expanded into the North American daily fantasy sports market. The company distributes its products through an extensive omnichannel footprint combining retail points of sale, proprietary digital platforms, and operator/supplier relationships with state-run lotteries, supported by an 8k+ global workforce.

The business is built on a regulated-asset foundation: Allwyn holds exclusive lottery concessions in Austria (since 1986) and operates as the number-one lottery or lottery-and-sports-betting operator in Greece/Cyprus, the United Kingdom, and the Czech Republic. It has expanded both horizontally and vertically through M&A, including Camelot UK Lotteries Limited, Camelot LS Group, a 70% stake in instant games supplier IWG, and online operator Novibet. Brand visibility is reinforced via a multi-year Official Partnership with Formula 1 reaching 827 million fans in its debut season and the F1 Allwyn Global Community Awards program.

Allwyn's revenue model is transaction-based across consumer-facing lottery, gaming, and sports-betting products, with FY2025 net gaming revenue of €4.1bn and €4.9bn returned to good causes and gaming taxes. The combined entity is re-domiciled in Switzerland, listed on the Athens Stock Exchange (public ticker GOFPY), and pursuing additional listings in London or New York, with a recently appointed CEO of Allwyn North America signaling continued investment in the US market.

Name

Allwyn

Legal name

Allwyn International AG

Website

https://allwynentertainment.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Allwyn is a multi-national, lottery-led entertainment company operating draw-based lottery games, instant win games, iGaming, and sports betting across five markets. Post-OPAP merger, it is the second-largest listed global gaming operator, serving millions of consumers and government lottery partners.

Ownership category

akta.pro rank

Product category

Lottery and Gaming Services

NAICS

Gambling Industries (7132), Other Gambling Industries (71329), Casinos (except Casino Hotels) (71321)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Lottery Operators (Government & Private Licensed) (MPAEAFAA)

akta.pro secondary industries

Digital Lottery & iLottery Platforms (Web/App) (MPAEAFAD), Lottery Ticket & Instant Games (Scratch-Off) Publishing/Printing (MPAEAFAC), Draw-Based Lottery Management (Number Games, Keno as Lottery) (MPAEAFAE)

Keywords

• Lottery operations
• Instant win games
• Sports betting
• Scratch card games
• National lottery games

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Lottery Games: Traditional lottery products including national lottery games generating revenue from ticket sales with portion returned to good causes
2. Instant Win Games: Digital instant win games available through online platforms
3. Scratch Cards: Physical instant lottery tickets sold at retail locations
4. iGaming: Online casino and gaming products through digital platforms
5. Sports Betting: Retail and digital sports betting products including stakes in Kaizen Gaming and OPAP operations
6. Daily Fantasy Sports (PrizePicks): 62.3% stake in PrizePicks, North American daily fantasy sports operator in the $2 billion DFS market

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Allwyn operates national lottery games (draw-based games with jackpots), instant win games, scratch cards, iGaming, retail casino experiences, and sports betting products across Austria, Greece and Cyprus, the United Kingdom, North America, and the Czech Republic. The company is the exclusive national lottery operator in Austria and the Czech Republic, the number-one lottery and sports betting operator in Greece/Cyprus, and the number-one lottery operator in the UK, complemented by a 62.3% stake in North American daily fantasy sports operator PrizePicks.

Product overview

Allwyn is a lottery-led entertainment company operating a multi-product gaming and entertainment portfolio. The company offers six core product categories: Lottery Games, Instant Win Games, Scratch Cards, iGaming, Retail Casino, and Sports Betting. The product portfolio is complemented by strategic acquisitions including Camelot UK Lotteries Limited and Camelot Lottery Solutions (lottery operations in US and Europe), IWG (instant games supplier with 70% stake), and PrizePicks (62.3% stake in North American daily fantasy sports). Allwyn operates across five primary markets: Austria, Greece and Cyprus, United Kingdom, North America, and Czech Republic.

Differentiator

Problem solved

Functional benefit

Products and services

• Lottery Games Traditional draw-based national lottery games with jackpots and supplementary games, offered to consumer players across Austria, Greece/Cyprus, the UK, North America, and the Czech Republic.
• Instant Win Games Digital instant-win games available across web and mobile platforms, supplied in part by IWG, the London-based instant games supplier in which Allwyn holds a 70% majority stake.
• Scratch Cards Physical and digital scratch-off lottery tickets available at retail points of sale across Allwyn's markets.
• iGaming Online casino and digital gaming offerings delivered through web and mobile platforms across Allwyn's licensed markets.
• Retail Casino Physical brick-and-mortar casino gaming experiences offered at retail locations in supported markets.
• Sports Betting Retail and digital sports wagering products, making Allwyn the number-one sports betting operator in Greece and Cyprus through OPAP operations and Kaizen Gaming stakes.
• PrizePicks North American daily fantasy sports platform and regulated prediction markets, in which Allwyn acquired a 62.3% stake for $1.533 billion in January 2026, valued at approximately $4.15 billion post-acquisition.
• Camelot UK Lotteries Limited UK National Lottery operator acquired by Allwyn in February 2023, making Allwyn the number-one lottery operator in the United Kingdom.

Quantifiable outcome

• €4.9bn returned to good causes and gaming taxes in FY 2025
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Formula 1flagshipStrategic or Co-development Partner · 26 March 2026Multi-year partnership extension with Formula 1 providing enhanced brand visibility during formation laps at selected races, integration into F1 Predict platform through Allwyn League, and expansion of F1 Global Community Awards to 8 charities across 8 Grand Prix locations. Represents Allwyn's most significant long-term commitment to the sport.
• PrizePickscoreStrategic or Co-development Partner · 16 January 2026Acquisition of 62.3% stake in PrizePicks, North American daily fantasy sports operator, for $1.533 billion. Values company at approximately $4.15 billion. Expands Allwyn's US revenue share from ~5% to 17% and targets the $2 billion DFS market.
• OPAP S.A.flagshipStrategic or Co-development Partner · 13 October 2025All-share business combination valued at €16 billion creating the second largest listed gaming operator globally. Combined company to be re-domiciled to Switzerland, remain listed on Athens Stock Exchange, with plans for additional listings in London or New York. OPAP to be rebranded to Allwyn in 2026.
• IWG (Instant Win Games)minorStrategic or Co-development Partner · 8 February 2024Acquired 70% stake in London-based instant games supplier IWG, becoming majority investor. Deal expected to close in H2 2024 without altering IWG's staff or leadership structure.
• Camelot UK Lotteries LimitedcoreStrategic or Co-development Partner · 5 February 2023Completed acquisition of Camelot UK Lotteries Limited from Ontario Teachers' Pension Plan Board. Camelot continues to operate under separate license until January 2024, operating UK National Lottery.
• Camelot LS GroupcoreStrategic or Co-development Partner · 22 December 2022Acquisition of Camelot LS Group from Ontario Teachers' Pension Plan Board, making group a wholly owned subsidiary of Allwyn. Operates lotteries in the US and Europe.
• Kaizen GamingminorStrategic or Co-development PartnerSports betting interests in Greece through stakes in Kaizen Gaming and OPAP, part of Allwyn's diversification strategy beyond lotteries.
• Elias Neocleous & Co LLCminorImplementation/ SI/ Consulting PartnerLegal counsel advising on €2+ billion financing programme including €550 million senior secured notes due 2031 and €1.5 billion syndicated term loan supporting Allwyn's strategic growth initiatives.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• La Française des Jeux (FDJ): French national lottery and gaming operator (Euronext-listed). Directly comparable to Allwyn as a publicly traded, license-driven lottery operator running draw-based games, instant win, and sports betting across France.
• Sazka Group: Czech-founded lottery and gaming operator with licenses across Central Europe (Austria's win2day, Italy's Lottomatica, Greece, Czech Republic). Closest head-to-head peer in European lottery-led entertainment.
• The Lottery Corporation: ASX-listed operator of lotteries in Australia (Tatts, Keno) and a digital platform. Comparable as a publicly traded, license-led lottery pure-play with similar draw-game and instant-product mix.
• Lottomatica (Lottomatica Group): Italian lottery, sports betting, and online gaming operator. Comparable European lottery-led operator offering draw-based games, instant win, scratch cards, and AAMS-licensed retail/digital distribution.

Broad incumbents

• International Game Technology (IGT): Global lottery technology and services provider, supplying systems, instant tickets, and operating services to state lotteries. Comparable as a broad incumbent serving many of the same regulators and government lottery customers Allwyn operates for.
• Light & Wonder (Scientific Games): Global gaming technology and content provider including lottery systems and instant products (via Scientific Games acquisition). Overlaps with Allwyn in instant win game content and lottery systems, but as part of a broader gaming portfolio.
• Flutter Entertainment: Global online sports betting and gaming operator (FanDuel, PokerStars, Sky Betting). Comparable in sports betting and iGaming verticals, though less lottery-centric; relevant as a large public-listed gaming operator peer.
• Entain plc: Global sports betting and gaming operator (Bet365 joint venture, Ladbrokes, Coral, bwin). Comparable as a publicly listed multi-brand betting operator; relevant for sports betting/iGaming overlap, though not lottery-focused.

Emerging players

• Lottoland: Online lottery and betting operator offering lottery betting, instant win, and scratch games across Europe, Africa, and Australia. Comparable in digital lottery distribution and insurance-bet lottery models, though lacks Allwyn's exclusive license positions.
• Zeal Network (formerly Tipp24): German-listed online lottery broker operating secondary lottery and instant win products across Europe. Comparable as a European-focused digital lottery intermediary, though smaller and without exclusive national licenses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@allwyn.Global
• LinkedInlinkedin.com/company/allwynglobal
• Instagraminstagram.com/allwyn.global
• TikToktiktok.com/@allwyn.global

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allwyn