The main competitor to Omaze in the British prize-draw market is contemplating a £200m London flotation to secure funding for several acquisitions. Sky News has been informed that Winvia Entertainment Group, primarily owned by billionaire entrepreneur Teddy Sagi, is collaborating with investment bankers at Shore Capital to explore a potential listing on London’s junior AIM market.
Preliminary discussions have already occurred with various institutional investors regarding an initial public offering (IPO), although a formal decision on proceeding with the process is pending. Winvia operates prize draw and competition websites like BOTB.com, which offers a range of prizes including homes, cars, and cash rewards. It is known to be the second-largest player in the sector, trailing behind Omaze.
According to research referenced by the Department for Culture, Media and Sport, approximately 7.4 million British adults have participated in prize draws and competitions, contributing to an estimated annual market value of £1.3bn. Sources indicated that part of Winvia’s valuation ambitions, should they choose to go public, are linked to their proprietary technology platform.
In the event of an IPO, existing shareholders of the company would maintain their current investments, while any capital raised would come from the issuance of new shares to support acquisitions. Winvia is predominantly owned by Mr. Sagi, an Israeli billionaire with ties to various British enterprises, including his role as the founder of Playtech, a gambling technology group. Additionally, Winvia’s management team is believed to have a stake in the company.
A representative for Winvia declined to provide a comment on the matter.
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