{"id":209045,"date":"2022-04-13T06:12:37","date_gmt":"2022-04-13T13:12:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=209045"},"modified":"2022-04-13T10:19:52","modified_gmt":"2022-04-13T17:19:52","slug":"allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/","title":{"rendered":"Allwyn, UK Lottery Winning Bidder, Says Russia Sanctions Could Hurt Business"},"content":{"rendered":"

Allwyn Entertainment<\/a> has warned investors that Russian sanctions related to the war in Ukraine could adversely affect its business.<\/p>\n

\"Allwyn
Allywn Entertainment owner Karol Komarek has publicly condemned the invasion of Ukraine but still jointly owns a gas storage facility in the Czech Republic with the Russian energy giant Gazprom. (Image: CTK\/Alamy)<\/figcaption><\/figure>\n

The company, which won the tender for the UK National Lottery last month, is a subsidiary of the European lottery giant Sazka. That is owned by the Czech oil and gas tycoon Karel Komarek.<\/p>\n

While Komarek has publicly condemned Russia\u2019s invasion of Ukraine, questions have been asked in the British parliament about his business ties to Russia.<\/strong><\/p>\n

In 2016, Kormarek\u2019s company, MND, built an underground gas storage facility in the Czech Republic in a 50-50 partnership with the state-owned Russian energy giant Gazprom.<\/p>\n

In late March, Labour shadow minister for Tech, Gambling, and the Digital Economy, MP Alex Davies-Jones, demanded clarity over the new lottery operator\u2019s relationship with Gazprom.<\/p>\n

Lottery Payout<\/strong><\/h2>\n

The National Lottery is one of the UK\u2019s biggest public sector contracts, and analysts believe it could be worth \u00a380 billion ($104 billion) over the next decade. Kormarek is expected to raise hundreds of millions more by floating Allwyn on the New York Stock Exchange through a special purpose acquisition company (SPAC).<\/p>\n

But in an investor presentation seen by the PA Media, Allwyn admits that \u201cThe conflict between Russia and Ukraine, and related sanctions, could negatively impact us.\u201d<\/p>\n

A spokesperson downplayed the significance of this risk in a statement to the PA this week.<\/p>\n

The potential impact of sanctions is a standard risk factor that virtually every US-listed company with international operations is making in light of the invasion of Ukraine by Russia,”<\/strong> the spokesperson said.<\/p><\/blockquote>\n

\u201cAs is self-evident to any fair-minded person who reads it, the inclusion of sanctions as a risk factor in our New York Stock Exchange listing presentation is a reflection of the current global climate, akin to the possible impacts of Covid-19, not an indication of a specific threat to Allwyn,\u201d they added.<\/p>\n

Lawsuit Launched<\/strong><\/h2>\n

Komarek has said that he decided \u201cmany years ago\u201d to divest himself of his Russian assets, except for \u201ca gas terminal and the 50\/50 joint venture with Gazprom in the Czech Republic.\u201d<\/p>\n

Meanwhile, the UK Gambling Commission (UKGC) said in March it was \u201csatisfied that no [lottery tender] application [was] impacted by sanctions related to the conflict in Ukraine.\u201d<\/p>\n

Another risk for investors is a lawsuit launched by losing bidder Camelot, which has operated the lottery since 1994. Camelot\u2019s complaint is expected to focus on allegations that the UKGC changed the rules in the final weeks of the selection process.<\/strong><\/p>\n

This week, the Telegraph<\/i> reported that another underbidder, Sisal, now owned by Flutter Entertainment, is weighing whether to join the lawsuit.<\/a><\/p>\n

Litigation permitting, Allwyn will take over the reins of the UK National Lottery in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Allwyn Entertainment has warned investors that Russian sanctions related to the war in Ukraine could adversely affect its business. The company, which won the tender for the UK National Lottery last month, is a subsidiary of the European lottery giant Sazka. That is owned by the Czech oil and gas tycoon Karel Komarek. While Komarek […]<\/p>\n","protected":false},"author":36,"featured_media":209046,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13699,61],"tags":[],"acf":[],"yoast_head":"\nAllwyn Says Links to Russian Energy Giant Gazprom Could Hurt Business<\/title>\n<meta name=\"description\" content=\"Allywn Entertainment could face headwinds because of links to Russia and Gazprom through its owner Karol Komarek.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allwyn Says Links to Russian Energy Giant Gazprom Could Hurt Business\" \/>\n<meta property=\"og:description\" content=\"Allywn Entertainment could face headwinds because of links to Russia and Gazprom through its owner Karol Komarek.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-13T13:12:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-13T17:19:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/Karol.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/\",\"url\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/\",\"name\":\"Allwyn Says Links to Russian Energy Giant Gazprom Could Hurt Business\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/Karol.jpg\",\"datePublished\":\"2022-04-13T13:12:37+00:00\",\"dateModified\":\"2022-04-13T17:19:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Allywn Entertainment could face headwinds because of links to Russia and Gazprom through its owner Karol Komarek.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/allwyn-says-links-to-russian-energy-giant-gazprom-could-hurt-business\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/Karol.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/Karol.jpg\",\"width\":1200,\"height\":900,\"caption\":\"Allywn Entertainment owner Karol Komarek has publicly condemned the invasion of Ukraine but still jointly owns a gas storage facility in the Czech Republic with the Russian energy giant Gazprom. 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