A significant lottery titan, Allwyn, is generating buzz in the financial district! To become publicly traded, they’ve opted to combine with Cohn Robbins Holdings Corp (CRHC), a firm already present on the NYSE.
This action demonstrates Allwyn’s remarkable expansion, with the unified entity projected to reach an impressive $9.3 billion valuation. Karel Komárek, the visionary behind KKCG Investment Group (Allwyn’s primary stakeholder) and Chairman of Allwyn’s board, views this as a crucial step in their trajectory.
Their audacious move is understandable given their impressive figures: in the twelve months preceding June 2021, they amassed an astounding €160 billion (equivalent to roughly $180 billion!) in lottery transactions across their various platforms. With a robust foothold in nations like Austria, the Czech Republic, Greece, Cyprus, and Italy, Allwyn is a formidable presence. They anticipate an adjusted EBITDA of approximately $810 million and net gaming revenue of around $1.7 billion for 2022.
Sir Keith Mills, Chairman of Allwyn UK, aptly summarized the enthusiasm surrounding this declaration: “Allwyn Entertainment’s proposed New York listing marks a significant milestone for our organization.” He perceives this as a clear acknowledgment of Allwyn’s dedication to transforming the worldwide lottery sphere, making it more enjoyable, cutting-edge, and captivating for all.
Evidently, Allwyn is on a quest to share its successful blueprint with every part of the world, and the world is paying attention!
Our proposal for the upcoming UK National Lottery permit has been significantly strengthened! This alliance is a major advantage for our submission, demonstrating our dedication to ethical gaming practices, a matter we prioritize.”
“Allwyn already possesses the highest tier (Level Four) of responsible gaming accreditation from the World Lottery Association, alongside the European Lottery Association’s standard for responsible gaming. This fresh collaboration only serves to further emphasize this commitment!”