European lottery operator Allwyn has completed its acquisition of Camelot UK from the Ontario Teachers’ Pension Plan Board (OTTPB), making Camelot a wholly-owned subsidiary of Allwyn. The acquisition paves the way for Allwyn UK, which was awarded the Fourth license by the UK Gambling Commission last year, to become the National Lottery steward beginning on the 1st of February 2024.
Uniting the Third and Fourth Licences
With the acquisition of Camelot UK, Allwyn will now control the current National Lottery license as well as the fourth license, which begins in February 2024. The objective behind acquiring Camelot was to unite the two licenses under one company for a smoother transition between the two. Allwyn Group CEO Robert Chvatal had said that the common ownership of the operators of both the third and fourth licenses will ensure the successful delivery of the National Lottery both in 2023 and the next decade.
Management Changes Announced
With the acquisition now finalized, management changes have been announced. Camelot Chief Financial Officer (CFO) Clare Swindell and Commercial Director Neil Brocklehurst have been named joint Co-CEOs of the company and will lead Camelot through to the end of the third license in January 2024. Meanwhile, Sir Keigh Mills will assume the role of Camelot Chairman from Sir Hugh Robertson.
Legal Action Against UKGC Decision
However, Allwyn’s journey to becoming the National Lottery steward is not over yet. International Gaming Technology (IGT) has reportedly launched a legal challenge against the UKGC’s decision to award the fourth license to Allwyn. Although Camelot dropped its battle following the license judgment, IGT continues to push its case in the courts.