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Allwyn Entertainment to Support Growth with New York Stock Exchange Listing in Partnership with Publicly-Traded Cohn Robbins Holdings Corp.

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Allwyn Entertainment to Support Growth with New York Stock Exchange Listing in Partnership with Publicly-Traded Cohn Robbins Holdings Corp.

 

Allwyn Entertainment, the new group-wide brand for SAZKA Entertainment AG, a leading multinational lottery operator, today announced another significant step in its evolution to a global lottery-led entertainment platform: Allwyn’s intention to become a publicly- listed company on the New York Stock Exchange (NYSE) in partnership with NYSE- listed Cohn Robbins Holdings Corp. (CRHC), resulting in an expected total enterprise value for Allwyn of approximately $9.3 billion. As described below and subject to certain limitations, an innovative feature of the Transaction provides CRHC shareholders the opportunity to establish ownership stakes at a maximum enterprise value of approximately $8.7 billion. CRHC is Co-Chaired by its Co- Founders, Gary D. Cohn and Clifton S. Robbins.

-Allwyn’s Total Enterprise Value in Proposed Transaction Expected to be Approximately $9.3 Billion; Transaction Provides CRHC Shareholders Discount to Enterprise Value-

-CRHC’s Sponsor Entity Commits $50 Million of Total PIPE Investment in Excess of $350 Million-

-Allwyn’s Strategy for Growth through Digitization, Acquisitions, License Tenders to be Strengthened by NYSE’s Premier Platform for Brand and Enhanced Capital Access

Karel Komárek, Chairman of the Board of Allwyn and Founder of KKCG Investment Group, Allwyn’s majority owner, stated, “Listing on the NYSE is the next chapter in Allwyn’s history and track record of shared success benefitting players, communities, governments and investors. We forecast the business delivering attractive revenue, profit and cash flow growth, creating attractive long-term value for investors. Going public positions Allwyn to expand its shared success to more markets, while enhancing capital access to fund opportunities for accelerated growth. KKCG has known for years that Allwyn is an amazing business, and I am very proud that global investors will have the opportunity to participate in its further growth.“ Robert Chvatal, Chief Executive Officer of Allwyn, stated, “It is an opportune time for Allwyn to take this exciting step. Jurisdictions in Europe and North America should have higher expectations for the innovations their lotteries can deliver. With consumers expecting the option to experience and pay for entertainment online, Allwyn is building stronger, more individualized and more valuable relationships with our customers. We look forward to applying our experience in developing market- specific, culturally-attuned lottery entertainment to new customers and geographies as an NYSE-listed company.”

A Leader in the Large, Resilient and Growing Lottery Industry

The $300 billion global lottery industry is the largest constituent of the global gaming ecosystem by sales and wagers, with customer demographics and market dynamics characterized by high participation globally; resiliency through market cycles; and expected acceleration in growth from digitization and the trend toward increasing online sales.

With a history of robust organic growth complemented by value-accretive acquisitions, Allwyn’s management team has built a platform whose component businesses (on a 100% basis) collected approximately €16 billion in wagers over the 12-month period ended June 30, 2021. A leading multinational lottery operator, Allwyn operates lotteries in Austria, the Czech Republic, Greece, Cyprus and Italy, and forecasts approximately $810 million (€710 million) in Adjusted EBITDA from approximately $1.7 billion (€1.5 billion) in net gaming revenue in 2022. Pro forma net debt / 2022E Adjusted EBITDA is expected to be approximately 1.6x.

Allwyn is committed to the highest standards of player protection, with all Allwyn- operated lottery businesses currently certified for responsible gaming by European Lotteries and holding the highest level of responsible gaming certification (Level 4) from the World Lottery Association.

NYSE Listing and Capital Investment to Support Growth Strategy

Allwyn expects the NYSE listing to support its global growth strategy by:

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– Providing the Company with greater access to capital markets to complement its strong balance sheet and cash flow generation, enabling it to accelerate its successful organic and inorganic growth strategy;

– Enhancing and expanding its global brand, including in highly attractive United States markets; and Building upon its reputation for transparency as a longstanding issuer of publicly-traded bonds with the additional distinctions of being an SEC- regulated company listed on the world’s premier stock exchange.

Trends in developed countries’ lottery, igaming and sports betting markets indicate the potential for significant additional online penetration in markets where Allwyn operates, as well as in those it has targeted for expansion. In markets where online lottery has been introduced, both total market size and the retail lottery market have grown substantially.

Online users of Allwyn businesses have more than doubled in the past two years, enabling the Company to establish customer relationships and implement cross- selling initiatives that it expects to create greater value and benefit from low churn rates and customer acquisition costs.

The Company also has identified new market opportunities in Europe and the United States, via potential acquisitions and license tenders, in markets that represent approximately €129 billion in estimated 2022 lottery wagers.

Messrs. Gary D. Cohn and Clifton S. Robbins, Co-Founders and Co-Chairmen of Cohn Robbins Holdings Corp., stated, “We have worked with hundreds of management teams and invested in hundreds of companies in our careers, but we founded Cohn Robbins to seek out just one. We believe that Allwyn is the right company, in the right industry, at the right time and with the right leadership team. We are excited by the growth opportunities the Company has ahead of it and we look forward to providing our support. We also are very pleased to be bringing this transaction to Cohn Robbins shareholders in an innovative way and at an attractive valuation.”

A Valuable and Responsible Community Partner

More than $100 billion, or approximately one-third of worldwide annual lottery sales, has gone toward funding public programming in recent years, according to data collected from their members by the World Lottery Association and European Lotteries. Allwyn uses its platform and skills to the benefit of the communities it serves.

Since 2014, Allwyn’s business has provided major support for the renovation and modernization of Greece’s most important, largest and oldest children’s hospitals. The Company promotes active lifestyles as major sponsors of professional and mass sport, including Olympic teams, professional football and basketball teams, and after-school programs and activities for children. It is the biggest supporter of sports in Austria, with its subsidiary, Austrian Lotteries, making a guaranteed annual contribution of at least €80 million to sports, and having provided approximately €1.7 billion in sports funding since 1986. In the Czech Republic, 150,000 school children each year participate in a Company-sponsored Olympic-style multi-sport contest, and the Company supports more than 3,200 disadvantaged children in pursuing sports through the Czech Olympic Foundation. In Greece, Allwyn sponsors more than 175 sports academies serving more than 18,000 children, 28,000 parents and guardians, and 1,000 coaches.

Transaction Overview

Current Allwyn equity holders are expected to retain approximately 83% ownership in the Company, and no new shareholder of the Company will own a stake of more than 5% immediately following the transaction.

Allwyn’s expected implied pro forma total enterprise value of approximately $9.3 billion represents approximately 11.5x 2022E Adjusted EBITDA. However, due to a bonus pool of up to approximately 6.6 million CRHC shares to be made available exclusively to non-redeeming CRHC shareholders, such shareholders have the opportunity to establish ownership stakes at a maximum expected effective valuation multiple of 10.8x 2022E Adjusted EBITDA, or approximately $8.7 billion in total enterprise value. Bonus shares forfeited by redeeming shareholders will be distributed to non- redeeming shareholders on a pro rata basis, which is variable based on a range of exchange ratios for shares held by non-redeeming shareholders of between 1.08x and 1.40x, to be determined based on redemptions. Assuming a price of $10.00 per share of CRHC common stock at the closing of the transaction, non-redeeming CRHC shareholders would receive, in exchange for each share of CRHC common stock held, shares of the post-combination company with value equating to between $10.80 (assuming no redemptions by CRHC shareholders) and $14.00 (assuming redemptions resulting in the maximum exchange ratio).

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CRHC, a special purpose acquisition company, holds approximately $828 million of cash in trust. Concurrent with the consummation of the proposed transaction, investors have committed to purchase more than $350 million of securities of the combined company (the “PIPE investment”). The PIPE investment includes participation from a group of international investors, including $50 million from CRHC’s Sponsor entity. The proposed transaction, which has been unanimously approved by both the Board of Directors of Allwyn and the Board of Directors of CRHC, is expected to close in the second quarter of 2022, subject to approval by CRHC’s stockholders, gaming regulatory approvals and other customary closing conditions.

Upon closing, Mr. Robbins will join Allwyn’s Board of Directors and Mr. Cohn will serve as a Special Advisor to Allwyn’s Board Chairman.

Advisors

PJT Partners is acting as financial advisor to Allwyn and KKCG, and is acting as joint placement agent on the PIPE. Kirkland & Ellis LLP and Clifford Chance are serving as legal advisors to Allwyn and KKCG.

Citi is acting as financial advisor to CRHC and joint placement agent on the PIPE. Credit Suisse is acting as Equity Capital Markets advisor to CRHC. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to CRHC.

Winston & Strawn LLP is serving as legal advisor to the placement agents.

Investor Webcast Information and Additional Materials

Beginning at 6:00 am EST on January 21, an investor webcast, in which management of Allwyn and CRHC will discuss the proposed transaction, will be available here as well as in the Investor Relations section of the CRHC website at www.cohnrobbins.com. An investor presentation also will be available on the CRHC and Allwyn websites.

Beginning at 6:00 am EST on January 21, an investor webcast, in which management of Allwyn and CRHC will discuss the proposed transaction, will be available here as well as in the Investor Relations section of the CRHC website at www.cohnrobbins.com. An investor presentation also will be available on the CRHC and Allwyn websites.

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FBM® unveils golden treasures in Mexico with Croc’s Lock™ bites

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FBM® unveils golden treasures in Mexico with Croc’s Lock™ bites

 

There is a new hero in Mexico as FBM® launches the thrilling Croc’s Lock™. This slot game merges an engaging storyline with a disruptive game mechanic based on the Lock feature and two accumulators, taking players into a cartooned adventure with Super Croc full of golden coins to collect.

Croc’s Lock is a 30-line slot filled with adrenaline and great prizes. Super Croc is the character around all action happens. Working with 15 independent reels, Croc’s Lock offers gaming sessions where Super Croc exploits lead the player through an entertaining journey with three new features. The surprise element is always present, as the big prizes can come on the main game or bonus free spins modes.

Extra Coins and Extra Spins unlock extra fun!

The central reel is the focus of the Croc’s Lock game mechanic. Every time players obtain a Super Croc on this position, the Lock Feature is activated. Super Croc liberates all the existing lock symbols and may open the bonus with Extra Coins, Extra Spins or both accumulators combined.

If the bonus mode starts with one chest open, players get five free spins. This number increases to ten free rounds when Super Croc triggers Extra Spins and Extra Coins at the same time. Each accumulator of the Croc’s Lock slot game presents a different feature:

  • Extra Spins – Super Croc releases thunders from its fingers, increasing the free spins counter during the bonus rounds.
  • Extra Coins – Super Croc changes the reels by shooting flaming coins to introduce more lock symbols on each free round.

The character stays on the central reel during the bonus plays. The features attached to each accumulator appear in the first free spin and can be repeated several times during the bonus rounds.

When players get into the bonus with one of the accumulators active, Super Croc keeps contributing with coins for the unopened chest. These contributions can lead to the opening of the other accumulator, allowing players to benefit from the combined effect of Extra Spins and Extra Coins.

Four jackpots, reel rewinds, and Luck Has Arrived to collect bags of coins

The Lock feature is just a part of Croc’s Lock’s adrenaline injection. This FBM slot offers a complete feature set, including four Progressive Jackpots and two game features ready to keep the players engaged on the screen: Rewind and Luck Has Arrived.

  • Progressive Jackpots – Croc’s Lock offers access to four different prize levels – Mini, Minor, Major, and Grand – through a jackpot vault that can appear on the reels during the main game or bonus rounds.
  • Rewind – part of the Super Croc special powers, this feature changes the game round outcome. When Crocs hits the paw, one or more reels will change the symbol displayed and deliver a winning round to the player.
  • Luck Has Arrived – the lasers coming from the eyes of the Super Croc pre-announce this feature, anticipating a big win for the player.

A villain, a hero and great graphics engage players in a disruptive FBM slot!

Several factors contribute to the immersive game experience offered by Croc’s Lock. Besides the rewards included in the product’s feature set, this FBM slot involves casino players and operators through a compelling narrative with the traditional duel “hero vs villain”.

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On one side, the Lock represents the evil force of the game and is visible on all lock symbols landed on the 15 independent reels, bringing challenges to the game hero on each spin. On the other side, Super Croc embodies the superpowers of the good forces on a joyful character, who guides the player on all relevant moments of the game with entertaining animations like the dances, the paw hit, the Extra Spins thunders, the Extra Coins flaming coins or the Luck Has arrived lasers.

The sound effects of Croc’s Lock add an extra layer of enthusiasm, completing the visual effects and animations of the game with sounds that keep on the player’s mind with catchy rhymes and melodies.

Available for the Galaxy II, Auria and Shadow III casino cabinets, Croc’s Lock starts its expansion journey in Mexico. Designed for players looking for significant prizes in durable and long-lasting gaming sessions, this title promises to enchant slot fans spread all over the country.

Following the releases of Jin Qián Link Spirits™ and Xing Fú Fortune Money Trees™, FBM continues renovating its slots portfolio with an innovative, reliable, high-performing casino game. Croc’s Lock is compatible with different casino floor layouts and ready to add value to the casino operator’s portfolio with an exciting narrative and compelling aesthetics, features, and game mechanics.

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Latest News

AGS Named One of U.S. News & World Report’s 2025–2026 Best Companies to Work For

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AGS Named One of U.S. News & World Report’s 2025–2026 Best Companies to Work For

 

AGS, a global gaming supplier known for its high-performing slot, table, and interactive products, has been named one of U.S. News & World Report’s 2025–2026 Best Companies to Work For.

AGS was selected as one of U.S. News & World Report’s Best Companies to Work For, placing in the top 30 percent of 2,119 publicly traded companies evaluated. To be eligible, companies were required to have more than 75 employee reviews on Glassdoor submitted between 2021 and early 2025, alongside strong workplace data across key metrics.

The U.S. News evaluation assessed companies based on employee sentiment and six key workplace factors: quality of pay and benefits, work-life balance and flexibility, job and company stability, physical and psychological comfort, belonging and esteem, and career opportunities and professional development.

AGS was honored in the following categories:

  • Best Companies to Work For – Overall
  • Best Companies to Work For in the West
  • Best Companies to Work For in the Media and Communications Industry
  • Best Companies to Work For – Top Workplace Environment
  • Best Companies to Work For – Top Engineering Jobs

In Nevada, AGS was one of only two companies featured on the 2025–2026 list.

“Our recognition by U.S. News & World Report is especially meaningful because it reflects what our employees have shared about their experience working at AGS,” said Kim Nasuta, Senior Vice President of Human Resources. “The hundreds of Glassdoor reviews submitted over the past several years tell a powerful story about a culture rooted in trust, transparency, and opportunity. We are proud to foster an environment where people feel supported, empowered, and excited to come to work every day.”

AGS was also recently named a 2025 Best and Brightest Companies to Work For in the Nation and in Atlanta, and recognized by USA TODAY as a 2025 Top Workplace in the U.S.

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Compliance Updates

Honolulu Mayor Signs New Laws Targeting Illegal Game Rooms

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Last Thursday, Honolulu Mayor Rick Blangiardi signed into law three bills — Bills 11, 12 and 13 — each of which are related to illegal gambling in the county.

The first, Bill 11, sets requirements on “electronic amusement devices” in public establishments. Operators of the establishment are now required to obtain a permit from the Honolulu Police Chief to use such a device on the premises, or else forfeit the device.

The Police Chief could deny a permit application if the proposed location of the device “would be reasonably likely to result in an increase in criminal activity, vandalism, litter, noise or traffic congestion,” according to the bill. The bill also requires anyone with a permit to allow a police officer to enter the premises and inspect the device and other records.

Meanwhile, Bill 12 allows the Honolulu Department of Planning and Permitting to deny permit applications for properties that have been cited for a gambling-related public nuisance within the previous two years.

And Bill 13 allows landlords to request a police escort while inspecting a private property for nuisance claims, with the accompanying officers authorized to document law violations or unsafe conditions, and to warn people not authorized to be there to leave.

In tandem, the three bills are meant to clamp down on illicit gambling rooms, which often become hotspots for associated complaints of criminal behavior.

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