Allwyn to Buy Camelot's US Business

Italian gaming company Allwyn has announced that they've come to terms to purchase Camelot Lottery Solutions, taking hold of Camelot's US business after they agreed to pick up the group's UK lottery business.

The move will see Camelot picking up the additional business from the Ontario Teachers' Pension Plan Board, although financial terms weren't disclosed. The business is headquartered in Chicago and provides lottery services to the state of Illinois. It appears that there will be leadership changes for the structure of the company moving forward.

Allwyn won the UK lottery licence in September, taking it away from Camelot, who'd held it for a lengthy period. Camelot then sued to fight the issuance, potentially putting a wrench in the transition from Camelot to Allwyn. The two companies struck a purchase deal in October of last year though, which will aid in any transition.

Commenting on the agreement, Allwyn CEO Robert Chvátal said, "We have always viewed the US market as an important part of Allwyn's future growth story, and the acquisition of Camelot LS Group, is the right step.

"Allwyn's goal is building better lotteries, and helping them raise more for good causes, through innovation, technology, efficiency and safety in our quest for enhanced player engagement. Both Allwyn and Camelot share a passion about the lottery business, delivering value to our customers, and growing lottery returns to communities."

Camelot Lottery Solutions Group CEO Wayne Pickup also commented, adding: "We remain committed to serving our customers, engaging players and growing lottery revenue to benefit the communities they serve.

"As the private manager of the Illinois Lottery, we work closely with the Department of Lottery to drive responsible and sustainable growth to maximise revenue for the State of Illinois. Combining the resources, expertise, and talent of Allwyn and Camelot LS Group will only strengthen the results we help the State of Illinois and all our customers achieve."