Allwyn has been approved by the Great Britain Gambling Commission to continue with its plan to acquire Camelot UK Lotteries.
Allwyn, in October 2013, announced that it was in advanced discussions to buy the business from the Ontario Teachers Pension Plan (OTPP). The deal is reportedly worth around PS100.0m (EUR113.9m/$124.0m).
Camelot will be responsible for all UK operations. This includes the rights to operate the National Lottery up to February 2024. Allwyn will then take over the operation after Allwyn was granted the fourth National Lottery license in September 2022. This ends Camelot’s 28-year tenure.
Allwyn stated that the acquisition would facilitate a smooth transition and provide “greater clarity, certainty,” for the future National Lottery and the good causes it funds, as well for employees at Camelot as Allwyn.
Other regulatory conditions may apply to the acquisition.
Robert Chvatal, interim CEO of Allwyn UK and chief executive of Allwyn Group, stated that this acquisition marks an important milestone on our journey to becoming the operator of National Lottery.
“We are delighted to welcome Camelot into our Allwyn family. Our common passion is to preserve and improve The National Lottery and the good causes that it supports.
A new leadership
Allwyn announced changes to Camelot’s board and management team in connection with the deal. Clare Swindell (currently Camelot’s chief financial officer) and Neil Brocklehurst (Camelot’s business director), will be co-chief executives and guide the company through the expiration of the fourth license in January next year.
Swindell joined Camelot as chief financial officer in 2017. She was elected to the board in September 2019. Before joining Camelot, Swindell worked as the group CFO at Dunnhumby. She also held several senior finance positions at Tesco.
Brocklehurst worked in Camelot for 15 years in various senior roles, including most recently as the commercial director since 2018. Brocklehurst has worked in a variety of senior roles for Camelot over the past 15 years, most recently as commercial director since 2018.
Camelot’s current chairman Sir Hugh Robertson, and CEO Nigel Railton will both be retiring from their positions and the board. Allwyn stated that it expected Sir Keith Mills, the new chair, to be named at the closing of the transaction. This is subject to regulatory approvals.
Chvatal stated, “I would like Sir Hugh and Nigel to be thanked for their contributions to the success of National Lottery.” “I am thrilled to appoint Clare & Neil as co-chief executives. Both have vast experience in the operation and management of Camelot and National Lottery.”
After Allwyn completed a deal to buy the US-facing Camelot Lottery Solutions unit, Allwyn also confirmed the management changes.