Allwyn, an international lottery corporation, will soon purchase Camelot UK, the present administrator of the UK National Lottery, from the Ontario Teachers’ Pension Plan Board. Through this acquisition, Camelot will become a fully owned subsidiary of Allwyn.
The transaction is projected to conclude in early 2023, subject to regulatory clearances, including approval from the Gambling Commission.
Robert Chvatal, Allwyn’s Chief Executive Officer, conveyed enthusiasm for the prospect, highlighting the joint dedication of both Allwyn and Camelot to the UK National Lottery and its beneficiary charities. He remarked that this purchase will guarantee a seamless handover and bolster Allwyn’s aspirations for the lottery’s future.
It’s crucial to note that while Allwyn has secured the fourth license to manage the UK National Lottery commencing February 2024, Camelot will maintain its independent operations until that time, in accordance with the stipulations of the third license.
Allwyn stresses that purchasing Camelot will guarantee a fluid handover when they assume control of the UK National Lottery. They are already collaborating closely with Camelot and the Gambling Commission to make the shift to the fourth license term as effortless as possible.
Nick Jansa, the head of EMEA investments for the Ontario Teachers’ Pension Plan, commented on their enduring association, stating, “We’ve been delighted backers of the UK National Lottery for the last dozen years. Camelot has performed admirably expanding the lottery and generating in excess of £20 billion (approximately $23.7 billion) for worthy charities, which has significantly impacted communities throughout the UK.”
He continued, “We are confident this sale constitutes the optimal way forward for the National Lottery as it enters its fourth license, and we wish Allwyn every success. I also want to express my personal gratitude to the whole team at Camelot for their unwavering effort and commitment over the past ten years, especially achieving unprecedented returns for good causes this last year.”
admin