Europe’s leading lottery operator, Allwyn AG, has agreed with Ontario Teachers’ Pension Plan Board to acquire 100% of shares of Camelot UK Lotteries Limited, the licensed operator of The National Lottery in the United Kingdom.
Under the terms of the agreement, the current operator of the National Lottery, Camelot UK Lotteries Limited, previously owned by the Canadian independent organization responsible for administering defined-benefit pensions for Ontario school teachers, will now become a 100% owned vertical of a prominent European lottery operator Allwyn.
Acquisition to close in Q1 2023:
Camelot UK‘s lottery operating license, the third in a row, is effective through January 2024. However, Allwyn will commence the takeover of the company under the terms of the agreement to close the acquisition still in Q1 2023, following the Gambling Commission and other regulatory procedures and approvals.
In September 2022, the Gambling Commission awarded Allwyn Entertainment Ltd the license to operate the National Lottery. The license agreement shall come into force from 1 February 2024 upon the expiry of Camelot’s license. Meanwhile, Camelot will operate separately as contracted under itslicense agreement. Indeed, Allwyn‘s ownership of Camelot will facilitate a smooth transition and Allwyn‘s instant takeover of the National Lottery operation from February 2024.
Smooth transition:
The currently effective Camelot license, called Third Licence, will expire on January 31, 2024, to be superseded by Allwyn’s Fourth Licence from February 1, 2024, without any disturbances to the National Lottery operation.
Robert Chvátal, CEO of Allwyn AG, is excited about the acquisition: “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.”
Chvatal is assured that the acquisition will raise the level of operation at a higher level: “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.”
Nick Jansa, Executive Managing Director for Europe, Middle East and Africa at Ontario Teachers’, commented: “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 billion for good causes and has supported thousands of organisations across the United Kingdom.”
Jansa added: ”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.”