Camelots surrender in the legal dispute concerning the UK National Lottery signifies a significant triumph for Allwyn, leaving Cohn Robbins Holdings Corporation (CRHC) ecstatic. Recall that Allwyn was Camelots competitor in the tender process, and this paves the path for them to prepare for a seamless transition in 2024. CRHC, supporting Allwyn’s grand entrance on the New York Stock Exchange, are particularly delighted as this obstacle could have disrupted their plans.
Although there remains a possibility of IGT continuing its legal battle against the Gambling Commission, industry specialist Lee Richardson believes Camelots withdrawal sends a powerful signal: the UK National Lottery’s future is progressing.
CRHC is also optimistic about Allwyn’s potential to make an impact overseas. The US lottery market, valued at an impressive \$100 billion, presents a lucrative opportunity, and they are eager to witness Allwyn vying for contracts in North America.
Cohn Robbins expressed their sentiment, stating, “As a collaborator in the proposed merger with Allwyn, Cohn Robbins echoes Allwyn’s zeal for the UK National Lottery. Allwyn’s appointment, through one of the most fiercely contested lottery license competitions ever, to manage Europe’s largest lottery demonstrates the competence and experience of the Allwyn team.”
Thrilled by Allwyn’s venture into the lottery arena, particularly their sights set on the colossal $100 billion American market. Their extensive background in effectively managing lotteries globally provides them with a distinct advantage. Originating as Sazka Group in the Czech Republic, their focus was on internet gambling and lotteries. However, they’ve truly zeroed in on lotteries as Allwyn, even securing the UK National Lottery agreement from Camelot, the operator since ’94. US residents adore their lottery slips, making Allwyn’s expansion into the US a logical step. Nevertheless, they’ll face formidable competitors such as IGT (who collaborated with Camelot in the UK) and Scientific Games. Observing the unfolding of this competition will be captivating!
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