Allwyn in Merger Talks with SPAC Cohn Robbins Holdings Corp

Allwyn in Merger Talks with SPAC Cohn Robbins Holdings Corp

European lottery operator Allwyn and Cohn Robbins Holdings Corp. are in talks for a opportunity merger, a Bloomberg report dependent on unnamed sources claims.

One more SPAC-Rumored Offer

Allwyn, which also operates electronic gaming and sports activities betting organizations, held talks with a specific function acquisition business (SPAC) led by previous Goldman Sachs executives Gary Cohn and Clifton Robbins Cohn Robbins Holdings Corp. The SPAC is one particular of the major acquisition autos available on the industry, armed with $828 million given that its original general public providing (IPO) in September 2020.

According to the report, if a deal is to be finalized, it would be as early as January upcoming calendar year as the SPAC attempted to increase funds in a non-public expenditure in general public equity (PIPE) in assistance of the transaction and the total valuation of the transaction is unclear at the minute.

Previous president and main functioning officer of Goldman Sachs, Cohn, left his executive position in the investment decision lender to be a part of the advisory staff of President Donald Trump as his main financial adviser, while Robbins is recognised for founding Blue Harbour Team activist hedge fund which ceased operations in 2020.

The Path to World Expansion

Allwyn, the new title of Sazka Leisure, which rebranded before in the month to much better replicate its ambitions for intercontinental growth to “evolve from a pan-European lottery operator into a world wide enterprise,” operates lotteries in Austria, the Czech Republic, Greece, Cyprus and Italy.

The lottery operator is presently seeking to include the British isles to its lottery portfolio by collaborating in the tender for the fourth United kingdom National Lottery license, looking to fend off competitiveness from Italian operator Sisal and Northern & Shell. Earlier in the yr, the gambling group employed the solutions of Brent Hoberman in a board advisory position to aid its bid for the license.

In March, the private investment decision fund with critical pursuits in the gambling market Apollo International Administration invested via its affiliates €500 million ($566 million) in the gambling group that has a professional-rata internet debt of $1.5 billion in accordance to its latest filings.

Pursuing an extraordinary next quarter and 1st 50 percent report with triple-digit progress in consolidated gross gaming revenue, Allwyn posted a 14% boost in consolidated gross gaming income in Q3 2021 to €876.2 million ($992 million) year-around-12 months.

Associates from both of those Cohn Robbins Holdings Corp. and Allwyn declined to comment on the facts offered in the report.