The United States Securities and Exchange Commission (SEC) has approved a business combination between Allwyn Entertainment and Cohn Robbins Holdings Corp. (CRHC). This action permits Allwyn, a prominent lottery operator, to transition into a publicly listed entity on the New York Stock Exchange.

Allwyn had earlier declared its aim to combine with CRHC, a special purpose acquisition company (SPAC), submitting the required documentation (an F-4 registration statement) to the SEC.

The amalgamation still necessitates endorsement from CRHC stakeholders, who are slated to cast their votes on the proposition at an upcoming extraordinary meeting. Presuming they grant their consent and all other aspects proceed smoothly, the recently consolidated company will be listed under the ticker symbol “ALWN” for its Class B common stock. Warrants will be traded under “ALWN.WS.”

CRHC’s board of directors is encouraging shareholders to support and vote “yes” on the propositions. They perceive significant promise in the worldwide lottery sector, highlighting its widespread attractiveness, ability to withstand economic downturns, and the expansion possibilities offered by the transition towards digital channels.

Allwyn, based in Austria, is a key participant in the worldwide lottery sector, an industry valued at an impressive $300 billion. Their lottery operations, both physical and digital, span numerous European nations, such as Austria, the Czech Republic, Greece, Cyprus, and Italy.

The UK Gambling Commission has designated Allwyn as the frontrunner to assume control of the UK National Lottery, replacing Camelot, which has managed it for nearly thirty years.