Canada markets closed
  • S&P/TSX

    18,861.36
    -217.28 (-1.14%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • DOW

    31,097.26
    +321.83 (+1.05%)
     
  • CAD/USD

    0.7762
    -0.0006 (-0.08%)
     
  • CRUDE OIL

    108.46
    +2.70 (+2.55%)
     
  • BTC-CAD

    24,634.98
    -290.74 (-1.17%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • GOLD FUTURES

    1,812.90
    +5.60 (+0.31%)
     
  • RUSSELL 2000

    1,727.76
    +19.77 (+1.16%)
     
  • 10-Yr Bond

    2.8890
    -0.0830 (-2.79%)
     
  • NASDAQ

    11,127.84
    +99.11 (+0.90%)
     
  • VOLATILITY

    26.70
    -2.01 (-7.00%)
     
  • FTSE

    7,168.65
    -0.63 (-0.01%)
     
  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     
  • CAD/EUR

    0.7439
    +0.0031 (+0.42%)
     

CORRECTED-European lottery group Allwyn to list on NYSE with blank check firm Cohn Robbins

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

(In paragraph 5, removes erroneous reference to possible use of proceeds toward debt refinancing)

PRAGUE, Jan 21 (Reuters) - Czech businessman Karel Komarek's European lottery group Allwyn Entertainment will list on the New York Stock Exchange in combination with blank check acquisition company Cohn Robbins Holdings Corp, the companies said on Friday.

The transaction will put the combined firm's enterprise value at approximately $9.3 billion, they said in a statement.

Allwyn, known as Sazka Entertainment until last year, operates lotteries in the Czech Republic, Italy, Austria, Greece and Cyprus. It is also bidding for a lottery licence in the United Kingdom.

Cohn Robbins (CRHC), set up by Gary Cohn, former economic adviser to U.S. President Donald Trump, and investor Clifton S. Robbins, raised $828 million https://www.reuters.com/article/us-cohn-robbins-hol-ipo-idUSKBN2612NR from investors in September.

The deal will support Allwyn's growth strategy including potential acquisitions and licence tenders in Europe and the United States, Allwyn said.

"It is an opportune time for Allwyn to take this exciting step. Jurisdictions in Europe and North America should have higher expectations for the innovations their lotteries can deliver," said Allwyn Chief Executive Robert Chvatal.

Allwyn forecast $810 million in adjusted earnings before interest, tax, depreciation and amortisation from around $1.7 billion in gaming revenue in 2022.

Current Allwyn equity holders will retain approximately 83% of ownership and no new investor will have a stake of more than 5% after the transaction. (Reporting by Jan Lopatka; Editing by Kenneth Maxwell and David Goodman )

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting