European lottery operator Allwyn now owns Camelot UK Lotteries.
The finalisation of Allwyn’s purchase of Camelot UK from the Ontario Teachers’ Pension Plan Board (OTPP) makes Camelot a subsidiary of Allwyn.
The deal was originally announced last October 2022 and received approval from the Great Britain Gambling Commission last month.
Passing the Torch
Allwyn takes over Camelot UK operation rights to operate the National Lottery until February 2024. Allwyn’s awarding of the fourth National Lottery licence concluded Camelot’s 28-year run as the sole UK Lottery operator.
The third License award to Camelot will continue to run commensurately, keeping Camelot operating separately from Allwyn but as an Allwyn holding.
Allwyn looked forward to the acquisition facilitating a smooth transition of operations, and producing “greater clarity and certainty” for the future of the National Lottery, the social causes of the lottery funds, and all Camelot and Allwyn employees.
Camelot chief financial officer Clare Swindell and commercial director Neil Brocklehurst were tabbed last month to supervise Camelot through the conclusion of the third licence.
Shakeup at Camelot
Five-year Camelot chairman Sir Hugh Robertson has been replaced by Sir Keith Mills as the new chair of the business, with Nigel Railton leaving the chief executive of Camelot spot.
Financial terms have not been disclosed, with Sky News estimating the agreement’s worth at £100m (€112m/$121m), according to unnamed sources close to the deal.
Ontario Teachers Deal
Part of the transition process includes Allwyn’s key acquisition of US-facing Camelot Lottery Solutions unit of companies from Ontario Teachers, with the completion of this transaction finalising the transfer of all Camelot holdings to Allwyn.
Allwyn is Confident and Prepared
Despite all the changes, Allwyn assures that Lottery operations will continue as normal.
The deal further provides Camelot Lottery Solutions with access to Allwyn’s expansive portfolio of resources to support Camelot clients.
Allwyn acquires extensive Camelot technology, a division that provides diverse Lottery products and services to lotteries throughout Europe and North America, above and beyond the UK.
Allwyn’s new lottery license will last ten years and fortifies Allwyn’s leading multi-national lottery operator status.
Allwyn has built its brand with an organisational mission to give back more to good causes through a lottery-first approach that encompasses a full casual gaming portfolio. Allwyn has established leading market positions in prominent European markets such as Austria, Czech Republic, Greece and Cyprus, and Italy.
The launch of the Fourth Licence next year will usher in a new era of advanced lottery services and social re-investment across the entire iGaming industry.