Investment firm KKCG has sold a 4.27% stake in Allwyn to Czech VC fund J&T Arch Investments in a €500m (£431.3m) deal.
The transaction values the lottery operator, which also holds stakes in Novibet, OPAP, Betano and Stoiximan, at €11.2bn, as of 31 December 2024.
The agreement was structured as a sale of equity in Allwyn by KKCG subsidiary Allwyn AG. After the transaction, KKCG’s interest in Allwyn is 95.7%.
KKCG became a co-owner in Allwyn (then Sazka) in 2011, before becoming the firm’s sole owner a year later. An investment from EMMA Capital followed, before KKCG once again took sole ownership in 2019.
Allwyn has a 50.18% holding in OPAP (which owns Stoixman), holds a 36.75% interest in Betano and a majority holding in Greek operator Novibet.
Czechia-based J&T Arch serves as the investment arm of the wider J&T Group, managing the assets of group founders in addition to private and institutional investors.
The fund is currently listed on the Prague Stock Exchange and is valued at approximately €5.6bn, as of 31 March 2025.
J&T Group carries out corporate and investment banking operations across Europe, with its main territories being Czechia, Slovakia, Germany and Croatia
KKCG said the investment “reflects the strength of Allwyn’s track record, its solid financial profile and continued confidence in its strategy and future development”.
KKCG founder and Allwyn chair Karel Komárek, said: “This is another significant step for Allwyn. It demonstrates the positive impact of KKCG’s vision and support for the business, and investor confidence in Allwyn’s successful growth-led strategy.
“I see many opportunities ahead for significant and sustainable value creation for Allwyn and I’m delighted that a wider range of investors can now join us on that journey.”
Robert Chvátal, Allwyn CEO, added: “At Allwyn, we’re on a mission to become the leading global gaming entertainment company.
“We have demonstrated that our platform delivers, and there is real momentum behind our exciting future growth strategy.”
Allwyn reported revenue of €2.2bn in its Q1 2025 results, up 6% compared to the same period in 2024. Adjusted EBITDA for the quarter came to €362.3m, leaving an EBITDA margin of 35.9%.
Last month, the operator also received an additional €2.15bn funding boost from a syndicate of international banks as part of a senior facilities agreement.
In addition to running the UK National Lottery, Allwyn was also part of the consortium which landed the Italian lottery licence in a deal which runs through to 2034.
The Gambling Commission initiated enforcement proceedings against Allwyn last month as the operator failed to deliver full functionality of the UK National Lottery by the agreed upon February 2025 deadline.
Allwyn also acquired a 51% stake in supplier Novibet back in December 2024 in a €217m deal.
Earlier this month, Allwyn announced the appointment of Betfred US CEO Kresimir Spajic as the new CEO of its digital arm.
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Czech private equity fund J&T Arch makes investment into the pan-European lottery operator in a deal worth €500m
The post Allwyn valued at €11.2bn as owner KKCG sells 4% stake first appeared on EGR Intel.