Allwyn is currently undergoing a significant operational transformation, aimed at becoming one of the largest multi-channel gaming groups globally. Kresimir Spajic, the company's digital CEO, is leading this initiative. Spajic joined Allwyn in September of last year and has openly expressed how influential founder Karel Komárek has been in shaping his vision for the company.
"The main reason why I’m here is Karel, because he sold me his vision and his story. He sees Allwyn as a digitally led entertainment company. [And] he doesn’t look only through the realm of gaming, but he wants to expand our industry, and especially our company outside of this," Spajic stated during an interview at a hotel in Marbella.
Over the past year, Allwyn has significantly broadened its operations through major mergers and acquisitions, including merging with the Greek lottery giant OPAP, which resulted in Allwyn being listed on the Athens Stock Exchange. Additionally, the $1.6 billion acquisition of PrizePicks has allowed the company to enhance its presence in North America and enter the daily fantasy sports market, with prospects for expansion into other sectors.
As Allwyn integrates these new businesses, Spajic indicated that further acquisitions are certainly in the works. He acknowledged that while discussions are ongoing, there is no rush to finalize any deals.
"We don’t feel that pressure; we want to do the right deal. We want to do things that are accretive to what we are doing, and it will ultimately lead to our main objective of becoming the leading global digital entertainment company," he explained.
Spajic also noted the necessary urgency inherent in the industry, highlighting the need to avoid obsolescence. However, he insists that Allwyn is not complacent; rather, the company is consistently exploring new opportunities. "So, yes, there are quite a few things in the pipeline, but there is no urgency that we must do the deal."
Regarding Allwyn's recent decision to back out of acquiring European sportsbook Novibet, Spajic elaborated on the factors that influenced this move. "There were a couple of elements we were looking for, one definitely is technology, talent, but also market penetration in certain areas that they have."
The acquisition fell through as discussions about necessary adjustments failed to maintain the transaction's value, following feedback from the Hellenic Competition Commission (HCC).
"We felt it was a good deal for everybody, [including] Novibet, us, but also for the Greek government and for the Greek consumers," he said.
Despite the setback, Spajic emphasizes that Allwyn is actively pursuing other acquisition strategies. He described the company's interest in both tuck-in acquisitions to enhance operational efficiency and strategic acquisitions that could open new markets.
"We are increasing our internal capabilities because we see growth coming from two parts. One is inorganic, which has been mostly the path of our company, but we’re also delivering on organic growth as well, by improving operational efficiencies and bringing these tracking capabilities," Spajic concluded.
A comprehensive profile of Kresimir Spajic will be available soon.
