A prominent lottery company, Allwyn Entertainment, is making its stock market debut! They’ve opted for the esteemed New York Stock Exchange, joining forces with Cohn Robbins Holdings Corp. (CRHC), an already NYSE-listed entity. This calculated maneuver places Allwyn’s valuation at an impressive \$9.3 billion, reflecting their remarkable achievements.
Karel Komarek, the visionary behind Allwyn and founder of its primary shareholder, KKCG Investment Group, views this as a landmark event in the company’s trajectory. This sentiment is understandable given their noteworthy history. In the twelve months preceding June 2021 alone, Allwyn’s platforms managed a substantial €160 billion (equivalent to \$180 billion) in lottery transactions.
Holding a significant presence in nations like Austria, the Czech Republic, Greece, Cyprus, and Italy, Allwyn projects an adjusted EBITDA of roughly \$810 million and net gaming proceeds of approximately \$1.7 billion for 2022.
Sir Keith Mills, Chairman of Allwyn UK, eloquently summarized the enthusiasm surrounding this news: “Allwyn Entertainment’s intention to list on the NYSE is a significant milestone for our parent organization. It’s a clear indicator of Allwyn’s dedication to transforming the worldwide lottery landscape with a more engaging, inventive, and captivating strategy.”
He continued, “It’s truly inspiring to observe our parent company’s aspirations for expansion and their commitment to introducing their lottery proficiency to new regions globally.”
Collaborating with the UK National Lottery would significantly strengthen our proposal, and we are thrilled to have presented our application for the fourth permit. Furthermore, we possess an excellent history regarding responsible gaming – we have achieved accreditations from both the European Lottery Association and the top ranking from the World Lottery Association.”
