Cohn Robbins Shares Allwyn’s Excitement For UK National Lottery After Camelot Withdraws Legal Appeal

Cohn Robbins Holdings Corp. (“CRHC” or “Cohn Robbins” or the “Company”) (NYSE: CRHC), a publicly-traded special purpose acquisition company, today commented on the announcement that Camelot UK Lotteries Limited (the incumbent operator of the UK National Lottery) has agreed to withdraw its appeal of a key June 2022 ruling by the UK’s High Court (the “Camelot Appeal”).

Leading multinational lottery operator Allwyn AG (“Allwyn”) stated yesterday that withdrawal of the Camelot Appeal removes an important obstacle to the UK Gambling Commission (“UKGC”) signing the enabling agreement that will allow the transition process to begin, and that it looks forward to cooperating with Camelot and the UKGC on the transition process to Allwyn UK operating Europe’s largest lottery. Allwyn UK was selected by the UKGC in March 2022 as the preferred applicant in the competition for the fourth license to operate the UK National Lottery. The current license expires on 31 January 2024.

Cohn Robbins stated, “As partners of Allwyn in our proposed business combination, Cohn Robbins shares Allwyn’s excitement concerning the UK National Lottery. Allwyn’s selection as the preferred applicant to operate Europe’s largest lottery, after one of the most competitive lottery license tenders ever conducted, is a tribute to the strength and track record of the Allwyn team. We are also excited that Allwyn will be competing for new lottery tenders – including in the $100 billion US market – with the credential of having successfully operated lotteries in multiple geographies.”

CRHC believes the global lottery industry has attractive characteristics, including high consumer participation across wide demographics, resiliency through market cycles and upside potential from increasing online penetration. Allwyn is a leader in the $300 billion global lottery industry, operating lotteries through both retail and online channels in multiple European countries, including Austria, the Czech Republic, Greece, Cyprus and Italy. CRHC furthermore believes Allwyn is well-positioned to grow through both organic and inorganic growth opportunities. For further information on Allwyn, please visit the Allwyn Investor Relations Website at investors.allwynentertainment.com.

The June 2022 ruling by the UK’s High Court lifted a stay that had prevented the UKGC from entering into agreements with Allwyn UK to formally award the fourth license to operate the UK National Lottery to Allwyn UK and commence the transition process from the Camelot Entities to Allwyn UK. The Camelot Appeal had caused the stay to remain in place pending the outcome of a hearing on the Camelot Appeal.