Allwyn Entertainment to be listed on NYSE in partnership with Cohn Robbins Holdings
Listing due to expand global reach of the British company.
Allwyn Entertainment has announced its intention to become a publicly listed company on the New York Stock Exchange (NYSE) in partnership with NYSE-listed Cohn Robbins Holdings Corp. (CRHC). This is expected to result in a total enterprise value for Allwyn of approximately $9.3bn.
Allwyn Entertainment is a British lottery, entertainment, and digital gaming operator.
“The announcement of Allwyn Entertainment’s intention to become a publicly listed company on the New York Stock Exchange is an important milestone for our parent company,” said Allwyn’s UK Chairman Sir Keith Mills. “It is a significant endorsement of Allwyn’s ability to increase lottery sales around the world by making them more entertaining, innovative, and appealing to their customers.”
An innovative feature of the transaction provides CRHC shareholders the opportunity to establish ownership stakes at a maximum enterprise value of approximately $8.7bn.
Karel Komárek, Chairman of the Board of Allwyn and Founder of KKCG Investment Group, Allwyn’s majority owner, said, “Listing on the NYSE is the next chapter in Allwyn’s history and track record of shared success benefitting players, communities, governments and investors.
“We forecast the business delivering attractive revenue, profit and cash flow growth, creating attractive long-term value for investors. Going public positions Allwyn to expand its shared success to more markets, while enhancing capital access to fund opportunities for accelerated growth. KKCG has known for years that Allwyn is an amazing business, and I am very proud that global investors will have the opportunity to participate in its further growth.”
Robert Chvatal, Chief Executive Officer of Allwyn, said this is an opportune time for Allwyn to take this next step.
“With consumers expecting the option to experience and pay for entertainment online, Allwyn is building stronger, more individualized and more valuable relationships with our customers. We look forward to applying our experience in developing market-specific, culturally-attuned lottery entertainment to new customers and geographies as an NYSE-listed company,” Chvatal said.
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