The prominent Austrian lottery entity, Allwyn, has verified its engagement in substantial negotiations to procure its UK counterpart, Camelot.
Camelot, presently under the ownership of the Ontario Teachers’ Retirement Fund, is contemplating the divestiture of its UK business to Allwyn. This development follows Allwyn’s successful outbidding of Camelot earlier this year for the UK’s fourth National Lottery concession. The transition encountered a hurdle due to legal objections from the departing operator, with Camelot initially expressing reservations about Allwyn’s eligibility. Nevertheless, they withdrew their appeal in September.
Although the situation appeared resolved, recent pronouncements from both Allwyn and the Ontario Teachers’ Retirement Fund regarding their entry into preliminary discussions have introduced a new element. Sky News indicates that a transaction valued at £100 million (equivalent to $115.4 million) is under consideration, which would result in Allwyn assuming control of the UK National Lottery earlier than projected.
Presently, their assumption of the license is slated for February 2024. Despite Allwyn’s confirmation of the acquisition discussions with Camelot UK, they have not divulged a precise sum.
Indeed, they have remained relatively tight-lipped. They did, however, assert: “Our mutual aim is to attain an accord that serves the paramount interests of the National Lottery, its participants, and the charitable endeavors it sustains.”
The media outlet, Sky News, reported that Camelot might withdraw its legal action if the purchase proceeds.
While Camelot ceased its opposition to Allwyn’s permit being granted in September, the organization is pursuing legal action against the Gambling Commission regarding a different matter.
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