November 18, 2022 3 min read


Allwyn Announces €1.6bn Funding Deal with International Banks

Allwyn Entertainment announced that it had entered into a new €1.6 billion senior facilities agreement with a syndicated group of international banks.

The €1.6 Billion Credit Facility Will Be Split

Lenders under the aforementioned arrangement agreed to provide an aggregate €1.6 billion ($1.65 billion) facility to Allwyn International AS (“Allwyn International”, formerly known as SAZKA Group AS). According to the terms of the agreement, the €1.6 billion ($1.65 billion) credit facility will be transferred into three separate debt tranches, namely €441 million ($456.4 million) of amortizing term loans due 2027, €441 million ($456.4 million) of bullet term loans due 2028, and €300 million ($310.5 million) revolving credit facility due 2027.

In addition, the leading global lottery operator will have access to a £380 million ($452.4 million) multipurpose facility, which will be available to be drawn as guarantees or term loans maturing in 2027.

Allwyn International will use the proceeds in the first place for refinancing existing indebtedness including its €623 million ($644.7 million) loan (including the €243 million revolving credit facility), its £380 million ($452.4 million) bank guarantee facility, and other debts amounting to €300 million ($310.5 million).

In the second place, the proceeds will be used to cover upfront expenditures for Allwyn Entertainment’s takeover of the UK’s Fourth National Lottery contract, which is scheduled to launch in February 2024, and for general corporate aims as well.

Allwyn CFO Pleased with the Interest in the Transaction

Kenneth Morton, chief financial officer of Allwyn Entertainment, commented that he was delighted with the interest that the transaction obtained regardless of the tough capital market environment. All existing banks have expanded their commitments and the lottery operator is pleased to have several new lenders in the banking group.

“This financing significantly extends our maturity profile, provides us with a flexible financing solution for the up-front costs of the UK National Lottery license, and generates additional liquidity to support our further growth and resilience.”

Kenneth Morton, chief financial officer, Allwyn Entertainment

Morton also added that after the successful issuance of €600 million ($621.3 million) of bonds earlier in 2022, the continued strong financial performance of Allwyn Entertainment and this deal proves its strength credit as well as its consistent delivery in relation to their organic and inorganic growth strategies.

UniCredit served as the global coordinator. Clifford Chance acted as Allwyn Entertainment’s legal advisor and Allen & Overy as lenders’ counsel.

Allwyn Obtained the Fourth License for the UK National Lottery

In September 2022, the UK Gambling Commission formally awarded the fourth National Lottery License to Allwyn Entertainment and entered into an Enabling Agreement with the multinational lottery operator. Meetings between Allwyn Entertainment, the Gambling Commission, and Camelot, the prior licensee, have begun. The Enabling Agreement will help all parties go through the transition between licenses and will set the framework for implementation.


Yasmin is an iGaming and gaming journalist with over 10 years of writing about various publications. Her experience spans the entirety of iGaming, traditional sports, as well as online poker. She is well-versed in every aspect of online gaming and her wealth of knowledge provides additional substance to our coverage.

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