The Vienna-based gaming enterprise, Allwyn, is poised to acquire the UK National Lottery. They’ve reached an agreement with the Ontario Teachers’ Pension Plan Board, the present proprietor, to procure Camelot UK, the entity responsible for managing the lottery.
This purchase signifies that Camelot will become a wholly-owned subsidiary of Allwyn. Nevertheless, several hurdles remain. The transaction requires approval from regulatory bodies, such as the Gambling Commission, anticipated in early 2023.
Robert Chvátal, Allwyn’s Chief Executive Officer, conveyed enthusiasm about assuming control of the UK National Lottery. He stressed the aligned objectives of both Allwyn and Camelot in preserving and expanding the lottery and its charitable contributions.
Notably, Allwyn is already slated to assume the National Lottery license from February 2024 onward. This acquisition of Camelot, however, will occur prior, facilitating a seamless handover. Allwyn has ambitious aspirations for the lottery, aiming to generate increased funds for worthy causes and enhance the participant experience.
Allwyn revealed that the Camelot acquisition represents a thrilling new phase for the organization as they prepare to oversee the UK National Lottery. The company is dedicated to collaborating closely with Camelot and the Gambling Commission to guarantee a seamless changeover when the fourth license term commences.
A spokesperson for the Ontario Teachers’ Pension Plan, a longstanding backer of the National Lottery, conveyed assurance in the transaction, affirming their conviction that it will result in a smooth transfer to Allwyn. They also conveyed gratitude to Camelot’s staff for their commitment throughout the years, emphasizing their remarkable history of generating funds for charitable endeavors.
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