Czech billionaire strikes deal with Formula 1: Everything starts during the Australian Grand Prix

Allwyn, a leading lottery company under the ownership of Czech entrepreneur Karel Komárek and a part of the KKCG Group, has officially become a partner of Formula 1.

The partnership, which spans multiple years, will see Allwyn’s brand showcased across F1’s global platform of 24 races each year, providing the company with an incredible opportunity to enhance its visibility around the world.While the financial terms of the sponsorship have not been made public, Komárek expressed his excitement about the partnership, viewing it as a crucial milestone in Allwyn’s strategy for international expansion. “This is a pivotal moment in Allwyn’s growth. It significantly elevates our presence on the global stage and highlights how important our lotteries are in contributing to socially responsible activities,” Komárek said in the company’s press release.

Allwyn and Formula 1 are both committed to supporting fans and local communities, according to the announcement. Formula 1’s President and CEO, Stefano Domenicali, remarked, “This partnership opens up fresh opportunities for both of our organizations to engage with a larger audience globally.”

The Allwyn logo will make its debut during the upcoming Australian Grand Prix, the season opener of Formula 1, as reported by e15.cz. This marks the beginning of Allwyn’s prominent role in the motorsport world.

Allwyn operates lotteries in several countries, including the Czech Republic, the United Kingdom, Italy, Austria, Greece, Cyprus, and the United States. The company has shown impressive financial growth, with adjusted EBITDA rising 12% year-on-year in the third quarter of the previous year, reaching €410.8 million. Its total revenues also grew by 7%, reaching €2.14 billion, according to its preliminary and unaudited consolidated results.

Komárek’s KKCG Group is diversified across multiple industries, with a focus on entertainment, oil and gas, information technology, and real estate, marking this new venture into Formula 1 as an important step in the group’s broader global strategy. The partnership with F1 is expected to play a key role in expanding Allwyn’s global recognition and further solidifying its position in the international market.