Allwyn Entertainment terminated a $9.3bn SPAC merger with Cohn Robbins Holdings.

Allwyn Entertainment, an operator of lottery business, terminated a $9.3bn SPAC merger with Cohn Robbins Holdings, a blank cheque company. “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," Robert Chvátal, Allwyn CEO.