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Allwyn and Cohn Robbins Announce Decision on Proposed Business Combination

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Allwyn AG, a leading multinational lottery operator, and Cohn Robbins Holdings Corp, a special purpose acquisition company, announced that they have mutually agreed not to proceed with their previously proposed business combination.

Allwyn received strong indications of support during recent meetings with investors, but the marketing period coincided with significant market volatility amid a backdrop of concerns about the prospects for inflation, interest rates and recession. Despite this, investors offered commitments of almost $700m to support the combination with Cohn Robbins.

After consideration, Allwyn and Cohn Robbins have jointly decided not to proceed with the transaction. Allwyn remains committed to joining the public markets in due course when conditions are more favorable and to expanding its business into the US.

Robert Chvátal, Allwyn’s group chief executive officer, said: “Allwyn was encouraged by the feedback from many leading investors, demonstrating the attractiveness of our business to the investment community.

“However, due to the prolonged and increasing market volatility, we and Cohn Robbins have decided not to proceed with the proposed business combination. We are grateful to the firm’s founders, Gary Cohn and Cliff Robbins, for their support over the past year and hope to work with them again in the future.

“As demonstrated by our recent results, Allwyn is a highly cash generative business with a strong financial and operational platform to pursue its organic and inorganic growth strategy and to invest in new opportunities. These include the National Lottery in the UK, where we are set to become the operator in 2024. We continue to pursue sustainable and profitable growth and remain excited about the many opportunities we see in the lottery business in Continental Europe, the UK, the United States and elsewhere.”

Gary D. Cohn and Clifton S. Robbins, CRHC’s Co-Founders and Co-Chairmen, said: “Our partnership with Allwyn was announced in January and since then we have witnessed a pronounced negative turn in market psychology, and just last week the market suffered its worst day since June 2020, with the sharply negative trend continuing this week. Karel Komárek and his teams at KKCG and Allwyn have much to be proud of in the lottery-led entertainment company they are building. Nevertheless, the persistently volatile and negative market conditions have led to our mutual decision with Allwyn not to proceed in completing the transaction. We wish them every success going forward.”

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Ahmed Baker Chief Commercial Officer at Incentive Games

INCENTIVE GAMES SECURES MICHIGAN GAMING LICENSE

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Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded a Provisional Michigan gaming licence by the Michigan Gaming Control Board (MGCB), effective today. This achievement allows the company to bring its innovative suite of Real-Money Games to operators and players across the state.

The Michigan licence represents Incentive Games’ first foray into the North American regulated market. This comes shortly after the launch of Incentive Studios, the company’s dedicated Real-Money Gaming division, which is set to drive its ambitious growth in this sector. The licence underscores the company’s unwavering commitment to maintaining the highest standards of compliance, security, and operational integrity. Obtaining this licence, which requires excellence in areas such as robust security protocols and comprehensive responsible gaming measures, provides access to one of the most dynamic iGaming markets in the United States.

Ahmed Baker, Chief Commercial Officer at Incentive Games, said, “Securing our Michigan licence marks an exciting new chapter for Incentive Games. It’s a testament to our unwavering commitment to meeting the highest regulatory standards and unlocks a significant opportunity for us in a critical North American growth market. This will allow Incentive Games to forge new partnerships and bring our highly engaging Real-Money Games directly to players in Michigan. We’re very grateful to the MGCB for this achievement, which is a pivotal step in our global expansion strategy as we continue to deliver world-class products and build strong partnerships in the region.”

The post INCENTIVE GAMES SECURES MICHIGAN GAMING LICENSE appeared first on Gaming and Gambling Industry in the Americas.

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Kambi Group plc and LeoVegas Group sign Turnkey Sportsbook extension and new Odds Feed+ agreement

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Turnkey Sportsbook partnership extended until end of 2027 as LeoVegas Group continues gradual migration to in-house sportsbook, which now has access to Kambi’s premium Odds Feed+ solution

Kambi Group plc, the home of premium sports betting solutions, and LeoVegas Group have signed a multi-year Turnkey Sportsbook partnership extension, alongside a new agreement for Kambi’s cutting-edge Odds Feed+ product.  

The Turnkey Sportsbook partnership will now run for an additional two years, through to the end of 2027, during which time LeoVegas will continue its migration to its proprietary sportsbook platform. In addition, LeoVegas and its stable of brands — LeoVegas, BetMGM, BetUK and expekt — has secured access to Kambi’s Odds Feed+, the industry’s premium odds feed solution. LeoVegas can now complement its in-house offering by selecting from Kambi’s full library of traded odds, which are delivered via a single API.  

The Odds Feed+ agreement is set to run beyond 2027, enabling Kambi and LeoVegas to continue to build upon a partnership first formed in 2016.   

Werner Becher, CEO of Kambi, said: “Our valued partnership with LeoVegas dates back almost 10 years and we are proud of the success we have achieved together. While we look forward to another two years of Turnkey provision, it speaks to the quality of our trading capabilities that LeoVegas also secured access to our Odds Feed+ solution, taking our partnership into a new phase.” 

The post Kambi Group plc and LeoVegas Group sign Turnkey Sportsbook extension and new Odds Feed+ agreement appeared first on European Gaming Industry News.

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Slots Temple Goes Live with NetGaming to Expand Games Portfolio

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Leading online casino operator Slots Temple has added established iGaming developer NetGaming to its ever-growing list of partners. Per the deal, NetGaming’s range of innovative online slot games will now be available for Slots Temple players.

NetGaming is a well-established content provider, best known for its range of Zeus-themed slots and games, which include Zeus’s Thunderbolt 5,000, Zeus’s Thunderbolt Plinko, and Zeus’s Thunderbolt.

Other hit titles in the studio’s catalogue include Shamrock Trio: Hold and Respin, Fireball Inferno Tiki, and Leprechaun’s Loot. The studio’s titles are defined by their creative designs and innovative gameplay mechanics.

NetGaming was launched in 2019 and has proven itself to be a huge hit among players, working alongside some of the biggest operators in the industry and establishing a global presence.

Slots Temple has established itself as a unique operator within the iGaming industry. The company began as an affiliate site before obtaining a license from the United Kingdom Gambling Commission to offer real-money slot games and tournaments.

In the time since, it has established itself as one of the most innovative operators on the market, putting an emphasis on tournaments and player communities. The site collaborates with some of the industry’s leading developers. This new partnership with NetGaming will further solidify its position as a leading player-centric operator, ensuring it provides players with a diverse and exciting games catalogue.

Fraser Linkleter, CEO at Slots Temple said: Our players always demand the best online casino games on the market, and by adding another innovative developer like NetGaming to our list of partners, we can ensure that we meet that demand.

NetGaming is a company that we have respected for a long time, and we have no doubt their products are going to be a huge hit with our players.”

Pallavi Deshmukh, CEO at NetGaming, said: ‘NetGaming is delighted to work alongside an established name like Slots Temple. Both companies strongly believe in the importance of providing top-quality online gaming experiences to customers, and we cannot wait to see how Slot Temple’s dedicated player base reacts to our games.”

The post Slots Temple Goes Live with NetGaming to Expand Games Portfolio appeared first on European Gaming Industry News.

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