The Austrian gaming corporation, Allwyn, is poised to purchase Camelot UK, the present administrator of the UK National Lottery. Camelot is presently held by the Ontario Teachers’ Pension Plan Board.

This procurement signifies that Camelot will transform into a wholly-owned subsidiary within the Allwyn portfolio. It’s crucial to recognize that Camelot’s existing permit as the UK National Lottery manager continues until January 31st, 2024.

The transaction is anticipated to conclude in the initial quarter of 2023, contingent upon regulatory green lights, primarily from the Gambling Commission.

Robert Chvátal, the Chief Executive Officer of Allwyn AG, conveyed his excitement, remarking, “We are delighted by the prospect of procuring Camelot, the current possessor of the UK National Lottery’s third authorization.” He stressed the mutual objective of both Allwyn and Camelot in fervently upholding and augmenting the UK National Lottery and its donations to charitable endeavors. Maintaining a sole operator for both the third and fourth authorizations will guarantee a seamless handover and sustained prosperity for the UK National Lottery in 2023 and beyond.

Chvátal additionally underscored Allwyn’s dedication to elevating the National Lottery, producing heightened finances for worthy causes, and reinforcing player protections. This acquisition strengthens the transition procedure and supports Allwyn’s aspirations for the National Lottery.

For background, the Gambling Commission has already granted Allwyn Entertainment Ltd (AEL) the license to manage the National Lottery commencing February 1st, 2024. Under the stipulations of this third authorization, Camelot will persist in operating autonomously until the transfer.

Allwyn, the organization poised to assume control of the UK National Lottery, views the purchase of Camelot as a crucial milestone in their path. This action positions them to oversee the lottery proficiently when their opportunity arrives. To guarantee a seamless shift, Allwyn intends to collaborate closely with both Camelot and the Gaming Commission.

The Ontario Teachers’ Retirement Fund, a substantial stakeholder in the National Lottery for more than ten years, conveyed their satisfaction in backing the lottery’s evolution. They emphasized Camelot’s accomplishments in generating over £20 billion (roughly $23.7 billion) for charitable endeavors, aiding numerous organizations throughout the UK.

Assured that this transaction sets the stage for an effortless transfer to the fourth license holder, they offered their well wishes to Allwyn. They also recognized the commitment and efforts of Camelot’s leadership and workforce in effectively operating the National Lottery, particularly in attaining unprecedented levels of income for worthy causes in recent periods.