Sagi to relist Winvia on London’s AIM at £200m valuation

Winvia Entertainment, whose main activity is operating a website for prize draws, is planning to raise £40-50 million at a company valuation of £200 million, “before money,” (about $270 million), in an IPO on the AIM. Sagi holds 83% of the company’s capital equity, while the company’s management holds the balance of the shares (17%). The flotation will not include an offer to purchase shares from the current shareholders, and the aim of raising the funds is to acquire rival companies and increase its market share.

Winvia’s main activity is operating the www.botb.com website (standing for best of the best), in which weekly prize draws are held for cars, cash, luxury watches, motorcycles, electronics products and even vacations. Best of the Best is not defined as a gambling company because the weekly prize draws are regulated as a game of skill rather than luck.

Sagi acquired control of the main activity in June 2023 when it was still publicly traded on AIM with a market cap of £40-45 million and delisted it, among other things to reorganize and leverage its activities. Sagi now feels that this is not the same company that was delisted, but a company that has undergone a significant transformation and will attract British investors. At its peak in 2021, BOTB traded at a market cap of over £250 million, reflecting a multiple of around 15 on operating profit (EBITDA) of around £16 million, a result similar to that presented by the company in the first half of 2025.

According to a government study conducted last June (Online prize draws and competitors market study), Winvia has become the second largest prize draw platform operator in the UK after its acquisition by the Sagi Group. The market in which the company operates, and in which it is working to increase its share, is not concentrated and is very fragmented between small companies, mainly family-owned, and therefore Winvia has the opportunity to find companies to acquire with which it will have high synergy. According to the British regulator’s estimates, there are over 400 companies in this market, and Sagi plans to take advantage of the extensive experience and reputation he has accumulated in acquiring companies and leverage the companies he acquires.

The technology on which Winvia is based is perceived in its market as its key competitive advantage, and this is one of the main reasons for the company’s accelerated growth in all its areas of activity. The company’s technology databank is developed in-house to meet the company’s specific needs, focusing on the user acquisition and customer management platform, and it also provides capabilities that other existing off-the-shelf solutions cannot match. The technology, which was used only internally until 2025, will be offered to selected B2B partners starting this year, thus constituting an opportunity for the company’s future expansion and a new revenue source.

The auction-based prize draw market (i.e. competition between bidders, Prize Draw Market) is a market with great potential and is therefore defined as a growth market. Currently, only 14% of the UK adult population takes part each year (7.4 million people) and this share of participants buys £1.3 billion worth of lottery tickets each year. Lottery ticket sales are expected to increase by 60% over the next three years, 2026-2028. The total turnover that the UK market will generate this year is expected to be £16.9 billion, an annual increase of 6.9%.

Winvia reported revenue of £153.2 million in 2024, up 57% from 2023 and revenue of £92.9 million in the first half of 2025, up 36% from the first half of 2024. Adjusted EBITDA in 2024 was £15.2 million and £16 million in the first half of 2025 up 539% from the first half of 2024 and more than in all of 2024.

As part of Winvia Entertainment’s growth strategy, the company recently launched a business model based on subscription purchasing and it is already bearing fruit beyond management expectations and will in this way significantly extend the life cycle of every customer, and increase the added value of each customer and ensure consistent long-term growth.

Jo Bucci serves as Winvia Entertainment chairman. She was previously chairman of the British Lotteries Council.

Published by Globes, Israel business news – en.globes.co.il – on September 30, 2025.

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