PPF wants to invest in Komárk company Allwyn. Could be up to 6.5 billion crowns now .cz

The PPF Investment Group has pledged to invest up to $260 million, or 6.5 billion crowns, in shares of lottery company Allwyn, which belongs to entrepreneur Karel Komárek’s KKCG group. The transaction will result in the purchase of 26 million shares of Allwyn, formerly Saska Entertainment. If PPF purchases the maximum number of shares under the pledge, it will own approximately 5% of Alwyn.

PPF currently holds a minority stake in Cohn Robbins Holdings, which Allwyn announced earlier this year that it would merge with 4 million shares. Both companies announced the changes in press releases.

Allwyn operates lotteries in the Czech Republic, Italy, Austria, Greece and Cyprus. The company also submitted a winning bid to operate the UK National Lottery.

Cohn Robbins is a so-called SPAC, a company that specializes in acquisitions. The merger is intended to enable the listing of his Allwyn on the New York Stock Exchange. According to Komárek, Allwyn’s entry into the U.S. stock exchange will accelerate the realization of growth opportunities in the United States.

Didier Stoessel, Chief Investment Officer of PPF Group, said: “We strongly believe in the growth potential of this multinational lottery company, while at the same time bringing stability to the current uncertain macroeconomic situation.” And by committing to invest in Allwyn’s stock, PPF Group will have the opportunity to become part of Allwyn’s ongoing expansion plans in the United States and globally.

On Monday, Allwyn announced second quarter results, with consolidated adjusted gross operating profit (EBITDA) up 17% to €277.1 million (CRK 6.8 billion). His total gaming revenue increased by 23% to €901.7 million (22.1 billion crowns).

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