Allwyn signs Kambi platform agreement and plans to buy IWG’s remaining 30%
Deals & M&A2 min read
Allwyn announced agreements with Kambi to develop an in-house sportsbook platform and plans to acquire the remaining 30% of Instant Win Gaming (IWG). The Kambi deal includes a global perpetual source-code licence and payments totalling €50 million over three years to 2029; Allwyn expects the approximately $120 million (€107 million) IWG acquisition to complete in the first quarter of 2027.
Allwyn has agreed with Kambi to build its own betting platform and plans to acquire the remaining 30% stake in Instant Win Gaming (IWG) for approximately $120m (€107m). The deals will give the operator more control of its betting technology and digital lottery content, making it less dependent on external suppliers.
Under the agreement, Allwyn will obtain a perpetual worldwide licence to Kambi's sportsbook source code, enabling it to build and run a platform for digital and retail betting. The deal is a first for Kambi and provides for development and deployment services during the transition. A dedicated team from the supplier will later move to Allwyn to help develop the platform further.
Allwyn plans to acquire the remaining 30% minority stake in IWG, which develops and supplies digital instant-win games. The acquisition follows the exercise of a put option by IWG's minority shareholders. The deal will make Allwyn the sole owner of the business, which provides e-instant lottery content to operators in the United States, Europe and other international markets. In 2025, IWG's adjusted EBITDA increased by 30% year on year, based on financial results denominated in US dollars.
The agreed consideration of approximately $120m (€107m) was calculated using a predetermined valuation formula. The final price is subject to customary closing and working capital adjustments. IWG's founders will retain their executive positions alongside the existing management team after the transaction. Completion is expected in Q1 2027.