Allwyn SPAC

Incumbents enjoy advantages in license renewals Lotteries, by their nature, have certain characteristics that create strong barriers to entry Governments need proven trusted partners | Responsible gaming credentials and corporate reputation are a must 26 Brand ownership is critical in many markets Exclusive long-term concession create deep relationships with regulators and other stakeholders, as well as strong market knowledge Relatively few peers given industry structure 1 allwyn

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