Allwyn nets UKGC greenlight to acquire Camelot UK

Allwyn nets UKGC greenlight to acquire Camelot UK

Allwyn UK remains on track to take control of the stewardship of the National Lottery in 2024, having been granted approval by the UK Gambling Commission (UKGC) to acquire Camelot UK

Last November, Allwyn agreed to terms with the Ontario Teachers’ Pension Plan (OTPP) to acquire Camelot UK, a transaction needed to “help facilitate the smooth transition of the National Lottery” – which will come under the management of Allwyn UK from February 2024.

The National Lottery’s transfer of duties has begun and will be overseen by Allwyn Group CEO Robert Chvátal who has agreed to serve as Interim UK CEO to ensure that all provisions of the Fourth Licence are completed.

Updating stakeholders, Chvátal commented, “Today marks an important milestone in our journey to become the operator of The National Lottery.

“Acquiring Camelot will help ensure a smooth transition from the Third to the Fourth Licence while bringing together the collective expertise and technical know-how of two highly experienced lottery operators.”

Securing the UKGC’s approval, Allwyn brings greater certainty to the future of the National Lottery for its partners, good causes and Camelot staff who will join a new company.

As such, Allwyn has announced several upcoming changes to Camelot’s Board and Management team, which will take effect on the completion of the deal.

Changes will see Clare Swindell and Neil Brocklehurst, currently Camelot’s Chief Financial Officer (CFO) and Commercial Director, respectively, become Co-Chief Executives and will lead Camelot through to the end of the Third Licence in January 2024.

Camelot UK’s current leadership duo of Sir Hugh Robertson and CEO Nigel Railton have agreed to step down from the Board, departing the company. Sir Keith Mills will  be appointed as the new Chair at closing of the transaction, subject to regulatory approvals.

“We are thrilled to welcome Camelot into the Allwyn family. Our common passion unites us: to protect and improve The National Lottery and the good causes it supports.” Chvátal concluded.

Source: SBC News