The UK Gambling Commission has authorised Allwyn’s acquisition of Camelot UK Lotteries from Ontario Teachers’ Pension Plan Board (OTTP).
Camelot was bought out by the Canadian pension fund back in 2010 for a fee in the region of £400m, but as the group prepares to relinquish its control over the UK National Lottery licence to Allwyn, its sale has now been sanctioned.
This forms part of a wider agreement between OTTP and Allwyn, with news emerging last month that the Camelot Lottery Solutions (Camelot LS) group of companies would be heading in the same direction.
The agreement is said to represent an important step in realising Allwyn’s objective of growing its brand in the US market, as the Camelot LS Group operates the Illinois Lottery under a private management deal through its operating company Camelot Illinois LLC.
On the UK front, the agreement is aimed at facilitating a smooth transition as Allwyn prepares to become operator of the UK National Lottery in February 2024.
The Commission’s approval of the sale precipitated several changes to the Camelot Board and Management team, with Chairman Sir Hugh Robertson set to vacate his role upon closing of the transaction. Robertson will be followed out of the exit door by CEO Nigel Railton and Executive Director Matt Risdale.
Addressing the sale of Camelot LS last month, it was noted that no changes were planned to the leadership team in connection with the transaction, and that the business “will continue to enhance the performance of the lotteries it supports”.