Source: Sharecast
Winvia, the second largest prize draw operator in the UK by market share, offers prizes such as cars, luxury watches, holidays, gadgets and properties via its Click and Best of the Best prize draw offerings.
However, Winvia makes most of its revenue from its Romanian online gaming business, which accounts for approximately 60% of its pre-tax earnings.
Winvia intends to use the funds raised from its IPO to acquire rival operators, which it said used legacy third-party platforms that "do not have the cash flow or financial means" to fund the investments required to drive future growth. It added that it was "already in discussions" with several potential acquisition targets.
Winvia reported full-year revenues of £153m in 2024, with pre-tax profits of £7m, up 59% on the prior year.
Chief executive Mihai Manoila said: "Since inception we have built two successful, well-established units, UK Prize Draw and Romanian Online Gaming, that have in turn resulted in Winvia Entertainment being a highly profitable, fast-growing and cash generative business with a track record of successful M&A.
"An IPO would allow us to accelerate our growth strategy, specifically on the UK Prize Draw business, where we see significant opportunities, both organic and inorganic, in a fragmented and fast-growing market where we can implement our technology platform."
Winvia's proposed IPO comes hot on the heels of tinned ham firm Princes and London-based bank Shawbrook's announcements earlier in October.
Reporting by Iain Gilbert at Sharecast.com
