Allwyn in Talks to Acquire UK Lottery Rival Camelot

The prominent Austrian lottery company, Allwyn, has verified it is engaged in substantial negotiations to acquire its UK competitor, Camelot.

Camelot, under the ownership of the Ontario Teachers’ Pension Plan, is contemplating the sale of its UK branches to Allwyn. This development follows Allwyn’s victory over Camelot earlier this year in securing the rights to manage the UK’s National Lottery commencing in 2024. However, the handover has not been without its hurdles. Camelot, the departing operator, initially contested Allwyn’s triumph in court but withdrew its legal action in September.

Many assumed this marked the conclusion of the matter, but recent pronouncements from both Allwyn and OTTP regarding preliminary discussions indicate a new turn of events.

Sky News has indicated that the two entities are exploring an agreement valued at a substantial £100 million (approximately $115 million). Should it materialize, this would grant Allwyn control of the UK National Lottery considerably earlier than projected.

Although Allwyn has acknowledged the discussions concerning the acquisition of Camelot’s UK enterprise, they remain reticent about the financial specifics.

In an official statement, the company conveyed: “Our mutual aim is to achieve an accord that serves the best interests of the National Lottery, its participants, and the charitable endeavors it sustains.” It appears both parties are eager to underscore a seamless transition and their dedication to the worthy causes supported by the lottery.

The news organization, Sky News, also stated that a successful acquisition would lead to Camelot abandoning its legal action. Although Camelot retracted its opposition to Allwyn receiving the license in September, an additional complaint against the Gambling Commission is reportedly underway.