Allwyn Moves International Headquarters to Switzerland

Allwyn International AG, the company that previously operated out of the Czech Republic, has found a new home in Switzerland, reincorporating itself in the European country.

Allwyn Moves Corporate Home to Switzerland

The change of home turf has been accompanied by the transfer of €500 million ($553 million) worth of senior secured notes due in 2027 to Allwyn Entertainment Financing (UK) Plc, the entity which is now considered the issuer of these notes, and which was incorporated to help the company secure the operator license for the National Lottery.

However, Allwyn has no immediate plans to enact any changes to its deeper corporate structure, nor to impact its workforce in any way, including layoffs.

The company, however, remains the largest lottery operator in Europe, winning the National Lottery license from Camelot in the United Kingdom in what turned out to be one of the ugliest transference processes to only be eventually resolved amicably through mutual negotiations.

Allwyn has been recently caught in another unpleasantry in the United Kingdom after information surfaced that the company is being investigated by the UK Gambling Commission (UKGC) over its alleged ties to Russia.

Busy Few Months for Europe’s Largest Lottery Operator

The regulator said that the operator’s “indirect ties” to Russia were irrelevant and had no bearing on the National Lottery licensing process which Allwyn won fairly, as noted in the highly contested and disputed ruling against Camelot.

Allwyn recently posted its second-quarter financial results in which it reported robust performance markets with the company’s revenue hitting €2.15 billion ($2.38 billion) year-over-year, a 5% increase.

In September, Allwyn also announced that it had acquired a 70% stake in Instant Win Gaming, but the financial details of the deal remained unspecified.