Allwyn, which won the competition for the fourth National Lottery licence, revealed that the UK Gambling Commission (UKGC) gave its approval for its proposed takeover of Camelot UK Lotteries. The country’s gambling regulatory body approval would provide the company with the chance to finalise the acquisition and move over to the next step in building its presence in the UK.
The announcement marks a major step forward for the UK National Lottery’s fourth licence holder as it would be able to finally take over the local lottery operations of Camelot from its current owner, the Ontario Teachers’ Pension Plan Board. The completion of Camelot’s acquisition remains subject to relevant regulatory conditions.
As Casino Guardian previously reported, the proposed takeover deal was announced after the two companies have been entwined in a legal battle that lasted for a few months. Eventually, the Czech Republic-based lottery operator agreed to acquire Camelot’s assets as part of its efforts to enhance the UK National Lottery and guarantee a smooth transition for all parties involved in the process. At the same time, the operator explained that the takeover is set to bring certainty for good causes and benefit not only the holder of the fourth National Lottery operating permit but employees of the former licence holder, as well.
Allwyn revealed that it continues its collaboration with Camelot in order to make sure the transition from the third to the fourth licence of the UK National Lottery goes as smoothly as possible. The operating permit held by Camelot is set to expire a year from now, and the new NL operator is set to take charge of the operations as of February 2024.
Camelot’s Board and Management Teams to Undergo Changes as Part of the Acquisition
As soon as the proposed takeover deal is finalised, Camelot is expected to undergo some changes within its board and management teams. The current chief financial officer (CFO) and commercial director of the company – Clare Swindell and Neil Brocklehurst – are set to transition to the roles of co-chief executive officers. The change is set to take effect once Allwyn finalises Camelot’s takeover. After that, the company will be led by Ms Swindell and Mr Brocklehurst until the expiration of the third operating permit of the National Lottery that is still in force.
Apart from the status of the duo, the acquisition deal will result in further changes to Camelot’s management team. Nigel Railton and Sir Hugh Robertson, who currently occupy the positions of CEO and Chairman, are set to step down from Camelot’s Board of Directors. After that, Sir Keith Mills is expected to take over the Chairman’s position once the company’s takeover is completed. The appointment of the new Chair is also subject to regulatory approval.
As explained by Robert Chvátal, the CEO of Allwyn Group and the interim CEO of Allwyn UK, the received UKGC approval of the company’s Camelot takeover marks a major milestone for the operator on its way to becoming the next operator of the UK National Lottery. He shared that the acquisition will help facilitate the transition from the third to the fourth NL licence while bringing together the expertise and technical know-how of the two lottery companies.
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Olivia Cole
