Allwyn Entertainment calls off plans to list in NYC

- Advertisement -


National lottery group Allwyn Entertainment has canceled plans for a New York listing that would have netted its billionaire owner around £690m.

- Advertisement -

Karel Komarek’s group planned to join the stock exchange through a £7.4 billion merger with a special purpose acquisition company.

- Advertisement -

Canceled: Karel Komarek’s group planned to go public with a £7.4 billion merger with a special purpose acquisition company.

- Advertisement -

But Allwyn, which will replace Camelot as the UK’s national lottery operator in 2024, cited “significant market volatility” and “concerns about the outlook for inflation, interest rates and a recession.”

The delayed listing followed a delay in May when Alwyn said he intended to complete the move in the third quarter of this year.

Komárek is valued at £6.5 billion and owns luxury properties around the world, including a stately home near Prague and an eight-bedroom property in the Swiss ski resort of Verbier.

Allwyn said he remains “enthusiastic about the many opportunities we see in the lottery business in Continental Europe, the UK, the US and elsewhere.”

Credit: www.dailymail.co.uk /

- Advertisement -

Recent Articles

Related Stories