Allwyn snaps up rival Camelot as it gears up for National Lottery takeover
Allwyn will snap up the current operator of the National Lottery Camelot UK as the Czech firm gears up to takeover the licence in 2024.
Earlier this year, the Gambling Commission awarded Allwyn the licence to operate the National Lottery from 1 February 2024.
Camelot, which is owned by Ontario Teachers’ Pension Plan Board, initially challenged this decision, arguing that the gambling watchdog did not properly evaluate the risk of its rival’s proposals, and questioned the processes behind the competition.
Legal action was eventually dropped and under the new acquisition agreement, announced this morning, Camelot will continue to be operated separately.
The companies said Allwyn’s ownership of Camelot will help facilitate “a smooth transition” of the lucrative National Lottery contract.
“We are delighted to have the opportunity to acquire the current operator of the Third Licence for the UK National Lottery. Allwyn and Camelot share a common goal: a passion to protect and improve the UK National Lottery, and the good causes it celebrates,” Allwyn chief Robert Chvátal said.
“Common ownership of the operators of both the Third and Fourth Licences will help ensure the successful delivery of the National Lottery both in 2023 and over the next decade.”
The National Lottery has raised more than £20bn for good causes under Camelot and has supported thousands of organisations across the UK.
The deal is anticipated to close in the first quarter of 2023 subject to regulatory approvals, including from the . The terms of the transaction were not disclosed.