Allwyn is undergoing a significant operational transformation aimed at establishing itself as one of the globe's largest multi-channel gaming groups. Leading this change is Kresimir Spajic, the company's digital CEO who joined in September of last year. He has expressed that collaborating with billionaire founder Karel Komárek has been a meaningful journey.
Spajic highlighted that Komárek's vision for Allwyn is oriented towards becoming a digitally-led entertainment entity. "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 while speaking poolside at a hotel in Marbella.
Recently, Allwyn has expanded its influence through major mergers and acquisitions, including its merger with the Greek lottery giant OPAP, which has led to its listing on the Athens Stock Exchange. Additionally, the company acquired PrizePicks for $1.6 billion, which marks its entry into the North American market and the daily fantasy sports sector, with plans for further vertical expansions.
Spajic indicated that Allwyn plans to continue pursuing acquisitions. Although discussions are currently in progress, he emphasized the importance of quality over speed regarding potential 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 affirmed.
He acknowledged the inherent urgency present in the industry, stating, "There is always an element of urgency in this industry, because you don’t want to become obsolete. We are not complacent. We are constantly exploring what the next thing is, and trying to be at the forefront of that next thing." However, he reassured that while there are opportunities lined up, immediate action is not a necessity.
Regarding Allwyn's recent decision to withdraw from acquiring European sportsbook Novibet, Spajic explained that the failure was due to not meeting certain expectations regarding technology, talent, and market penetration. This decision followed feedback from the Hellenic Competition Commission, leading him to assert that while the original deal appeared advantageous to all involved parties, the restructuring attempts did not sustain the anticipated value.
"We are exploring other alternatives and executing on other M&A strategies that we have," Spajic added, noting that the company is pursuing smaller acquisitions to enhance its operational and technical capabilities in underdeveloped or unregulated markets.
On top of this inorganic growth approach, Spajic stated that Allwyn is also focusing on enhancing its operations internally, aiming for a dual growth strategy. "We are increasing our internal capabilities because we see growth coming from two parts. One is inorganic, but we’re also delivering on organic growth as well by improving operational efficiencies and bringing these tracking capabilities," he concluded.
A comprehensive profile of Kresimir Spajic will be published soon.
