Allwyn Entertainment has announced that its acquisition of Camelot UK Lotteries from Ontario Teachers’ Pension Plan Board has been given the green light by the UK Gambling Commission.
The news brings to a close a turbulent licensing bidding process that saw Camelot threaten legal action over the Gambling Commission’s decision to award the fourth lottery license to Allwyn ahead of Camelot. However, the company withdrew its threat and entered into negotiations to sell its UK lottery business to Allwyn.
In a statement following the decision, the company said:
“Allwyn welcomes the news that the Gambling Commission has cleared the company’s acquisition of Camelot UK Lotteries Limited from Ontario Teachers’ Pension Plan Board.”
Robert Chvátal, CEO of Allwyn Group and Interim CEO of Allwyn UK, 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.
“We are thrilled to welcome Camelot into the Allwyn family. We are united by our common passion: to protect and improve The National Lottery, and the good causes it supports.”
There will now be some changes to Camelot’s board and management team as Allwyn prepares for the transition to a new lottery license which is to commence in January 2024.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.