Allwyn Reaches Purchase Agreement for Camelot

Lottery operator Allwyn Entertainment has announced that it has reached an official agreement to purchase fellow lottery operator Camelot UK, the company that it will be taking over for as the operator of the UK National Lottery in 2024.

The terms of the agreement weren't made available, but it is believed the purchase price for Camelot will come in at around £100 million, as Camelot still holds the keys to the UK Lottery and an early purchase would help with the transition. The deal is subject to approval from various regulators, including the UK Gambling Commission. The purchase is expected to go through and would be completed during the first quarter of next year.

Camelot is currently owned by the Ontario Teachers' Pension Plan Board, and the agreement would make Camelot UK an Allwyn subsidiary. The move comes after Allwyn swooped in and won the bid process for the UK National Lottery licence. What followed were legal challenges by Camelot, which led to the negotiations and eventual purchase.

Commenting on the deal Allwyn CEO Robert Chvátal said, "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.

"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.

"Allwyn is committed to making the National Lottery better, raising more for good causes and improving player protection. This deal strengthens the transition process and helps support Allwyn in achieving its vision for the National Lottery."

Ontario Teachers Pension Plan Executive Managing Director for Europe, Middle East, and Africa Nick Jansa added: "We are proud to have been a strong supporter and partner of the National Lottery over the past 12 years. In that time, under Camelot's stewardship the National Lottery has raised more than £20.0bn for good causes and has supported thousands of organisations across the United Kingdom.

"We believe this sale best positions the National Lottery for a smooth transition to the Fourth Licence operator and wish Allwyn every success.

"I want to express my sincere thanks to Camelot's management and employees for their tremendous efforts in successfully running the National Lottery over the last decade, including achieving record revenues to good causes in the last year."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.

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