The UK’s Gambling Commission has given the green light to the acquisition of current National Lottery operator Camelot UK Lotteries by Allwyn.
Camelot is owned by the Ontario Teachers’ Pension Plan Board and it lost out to Allwyn in the battle to be the next National Lottery operator from February of 2024.
Allwyn said this week that the acquisition "will produce greater clarity and certainty for the future of The National Lottery."
Allwyn UK CEO Robert Chvátal (pictured) said: “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.”
There are a number of changes to Camelot’s board and management team, which will take effect on completion of the deal.
Clare Swindell and Neil Brocklehurst, currently Camelot’s chief financial officer and commercial director, respectively, will become co-chief executives and will lead Camelot through to the end of the third licence in January 2024.
"Notably Camelot’s current chairman Sir Hugh Robertson and CEO Nigel Railton will step down from the board, among others. Sir Keith Mills is expected to be appointed as the new chair at closing of the transaction, subject to regulatory approvals.