Allwyn, an international gaming corporation, will purchase Camelot UK, the present administrator of the UK National Lottery, from the Ontario Teachers’ Pension Plan Board. Through this acquisition, Camelot will become a wholly-owned subsidiary of Allwyn.
The transaction is anticipated to conclude in the initial quarter of 2023, subject to regulatory clearances, including authorization from the Gambling Commission.
Robert Chvatal, Chief Executive Officer of Allwyn, conveyed his excitement regarding the purchase, emphasizing the mutual dedication of both Allwyn and Camelot to the UK National Lottery and its beneficiary charities. This action occurs as Allwyn gets ready to assume control of the UK National Lottery’s operations from February 2024 onward, having secured the fourth license from the Gambling Commission.
This acquisition effectively strengthens Allwyn’s presence within the UK lottery sector, as they will now oversee both the existing and forthcoming operations of the National Lottery. This calculated maneuver facilitates a more seamless changeover and bolsters Allwyn’s aspirations for the lottery’s future.
Allwyn has indicated that its purchase of Camelot will facilitate a fluid changeover as it gets ready to assume control of the UK National Lottery. They intend to collaborate closely with both Camelot and the Gaming Commission to guarantee a trouble-free transfer.
The Ontario Teachers’ Retirement Fund, a substantial stakeholder in the National Lottery, conveyed satisfaction in their twelve-year alliance with the institution. They emphasized the considerable funds amassed for charitable endeavors under Camelot’s stewardship, surpassing £20 billion (equivalent to $23.7 billion USD). They are confident that this divestiture will lay the groundwork for an effortless shift to the fourth licensed operator and extended their best wishes to Allwyn. Lastly, they expressed gratitude to Camelot’s leadership and workforce for their commitment over the preceding ten years, particularly in attaining unprecedented levels of income for worthy causes in the past year.