Global lottery company Allwyn Entertainment’s planned merger with Cohn Robbins Holdings (CRHC) to gain a New York Stock Exchange listing has moved a step forward. The company its registration statement on Form-F4 has been declared effective by the U.S. Securities and Exchange Commission. CRHC, a special purpose acquisition vehicle, said its shareholders will meet on Sept. 7th to approve the combination. CRHC has recommended shareholders to vote for the merger, saying that Allwyn is a leader in the $300 billion global lottery industry, both retail and online, in multiple European countries. It says the global lottery industry has an attractive outlook, with upside potential from increasing online penetration. The industry enjoys widespread consumer participation across multiple demographics and has proved to be resilient to economic downturns. Current Allwyn equity holders are expected to retain approximately 83 percent ownership in the new company following the merger, which will have an enterprise value of $9.3 billion. No new shareholder of the company will own a stake of more than 5 percent immediately following the transaction. CRHC holds approximately $828 million of cash in trust and the transaction will provide $350 million from committed PIPE investments.

AIBC Europe’s Launchpad: The Pitch Competition

The AIBC Pitch is about more than just bright ideas. The competition offers a solid launchpad for pioneering startups pushing the boundaries of emerging technology, bringing them invaluable advice and mentorship from leading investors in the field. A lucky 10 will be selected to pitch their project live on stage in front of a panel made up of a team of leading industry experts, putting them in the running to win a potential prize of up to $500,000 in equity investment and giving them a leg up in their unicorn journey. This is not just a challenge, but also an excellent opportunity for you to meet investors, VCs, accelerators, etc.  – The application deadline is the 21st of October. Should you have any questions, please contact Ali at [email protected].