Allwyn Chooses New York for Secondary Listing Over London

Concerns are rising that the Czech gambling group Allwyn, which operates the UK National Lottery, may opt for New York over London for its secondary stock market listing. This decision follows the company’s initial listing on the Athens Stock Exchange, a move that is expected to solidify its position as one of the largest lottery and gaming operators worldwide.

Market sources suggest that Allwyn is exploring options for a secondary listing, with New York appearing to be the front-runner. The company previously attempted a listing in New York in 2022, but the effort did not materialise. As part of its expansion strategy, Allwyn is keen on tapping into the deeper pools of capital that the US market offers. Investment bank PJT Partners is among the advisers engaged in the process.

Allwyn’s plans are significant, as it has been awarded a ten-year licence to run the National Lottery from 2024, succeeding Camelot, which has held the licence since the lottery’s inception in 1994. The new operator has promised to increase donations to charitable causes and to modernise technology within the lottery framework.

Despite these aspirations, charitable contributions have reportedly fallen to a two-year low, raising questions about Allwyn’s capacity to fulfil its promises. The company’s financial performance in the UK sector has been the least profitable when compared to its operations in continental Europe, where it has seen considerable earnings.

Allwyn’s digital transformation efforts signal its commitment to modernise the National Lottery experience for users. Recent upgrades have included moving nearly 12 million player accounts to a new software platform and enhancing the National Lottery app and website functionalities.

The potential choice of New York over London is particularly disappointing for the UK’s financial markets, which have been struggling to attract new listings since the pandemic began. The outcome of this decision will have implications not only for Allwyn but also for the broader trends in global financial markets.