Allwyn announced in January that it had reached a deal resulting in a total enterprise value of approximately $9.3bn (£6.9bn/€8.2bn). The merger was initially anticipated to be completed in the second quarter of 2022, but according to an investor presentation last month by Cohn Robbins, the expected timeframe for the transaction’s closure has shifted to Q3. As per the deal, existing Allwyn shareholders will retain 83% ownership of the business. Public shareholders of the SPAC will hold 11%, while private investors will hold 5% and Cohn Robbins’ sponsors will hold 1%.
Additionally, since the merger announcement, Allwyn was awarded the tender by the Gambling Commission for the UK’s fourth National Lottery licence, potentially becoming the first entity other than Camelot to operate the lottery since its establishment in 1994. However, Camelot has challenged the licence award in the High Court, alleging that the Commission has not provided a satisfactory explanation despite extensive correspondence. Furthermore, Allwyn recently underwent a rebranding, changing its name from Sazka to reflect its transformation from a pan-European lottery operator to a global business.
