Allwyn in Discussions to Purchase Camelot

Lottery group Allwyn Entertainment has announced that they're currently in advanced discussions to purchase fellow lottery group Camelot UK after it won the contract to obtain the UK's lottery services earlier this year.

The news of the talks came from news service Sky News, who reported that they were in talks with Camelot owner the Ontario Teachers' Pension Plan to purchase the group for £100 million. If successful, a purchase would see Allwynn taking control of Camelot's UK business, which includes the rights to the lottery through February 2024, when Allwyn would then take over.

Such a purchase would save costs on a transition, which would also be a costly endeavor.

Allwyn got the UK's fourth lottery licence earlier this year, taking it away from Camelot, who held the licence for the past 28 years. That licence was challenged in court by Camelot and IGT, who eventually dropped the case.

In a statement, Allwyn wrote: "In response to speculation, we can confirm that Allwyn is engaged in advanced discussions with OTPP which may lead to it purchasing Camelot's UK operations. If an agreement were to be reached, it would be subject to regulatory approvals.

"Our shared objective is to reach an agreement which would best serve the interests of the many stakeholders of The National Lottery, in particular the good causes it supports as well as the employees of Camelot and Allwyn UK."

It is possible that a completed deal could be finalized in the next few weeks.

Casino Listings News is following this story and will update readers as appropriate.