Allwyn Entertainment Ltd Agress Acquisition of Camelot UK
Published on by Becky M.
A few months ago, we reported the fourth UK National Lottery was awarded to Allwyn by the UKGC after a lengthy battle with competitors including the current National Lottery licence holder Camelot. After the news broke, Camelot was due to step down after nearly 30 years of operating the National Lottery.
Wholly-Owned Subsidiary of Allwyn
In a turn of events, Allwyn has agreed on the acquisition of Camelot and once the acquisition is fully signed and sealed Camelot will become a wholly-owned subsidiary of Allwyn.
During the battle for the fourth National Lottery license, Camelot challenged the UK Gambling Commission’s (UKGC) decision to award Allwyn the fourth licence. However, after fierce negotiations, Camelot backed down and Allwyn was officially granted the fourth licence due to commence in February 2024.CEO at Allwyn AG Robert Chavtal 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: to protect and improve the UK National Lottery, and the good causes it celebrates. Common ownership of the operators of both third and fourth licenses will help ensure the successful delivery of the National Lottery both in 2023 and over the next decade.”
Working closely with the Gambling Commission
As Allwyn Entertainment Ltd (AEL) noted, both companies will work closely together with the Gambling Commission to ensure the smooth transition of the fourth National Lottery Licence.Managing Director of Europe, Middle East, and Africa at Ontario Teachers’ said, “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 £20bn for good causes and has supported thousands of organisations across the UK.“We believe this sale best positions the National Lottery for a smooth transition to the Fourth Licence and wish Allwyn every success. I 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.”