This announcement was made Monday, marking a significant step forward in Allwyn’s acquisition Camelot from Ontario Teachers’ Pension Board. After a lengthy legal battle, the plan to takeover was finally announced. Allwyn, the winner of the fourth National Lottery License, , agreed to purchase Camelot to help strengthen the Lottery, and facilitate a smooth transition. The company also confirmed that the acquisition would bring security and benefit to good causes, as well as Camelot employees.
Camelot continues to work with Allwyn to transition from the third license to the fourth National Lottery licence. Allwyn will take over the Lottery under the fourth license starting February 2024. The company’s license expires in one year. However, Camelot’s acquisition is still subject to regulatory conditions.
Camelot’s C-Suite will be affected by the acquisition
Camelot will undergo management and board changes upon completion of the acquisition. Clare Swindell and Neil Brocklehurst, currently Camelot’s chief financial officer (CFO), will be transitioning to the roles as co-chief executives. After the acquisition is complete, this change will take effect. The duo will then lead the company until the third licence expires.
The takeover will not only bring down the duo but also make changes to Camelot’s management team. The company’s chairman Sir Hugh Robertson and Nigel Railton (Camelot’s CEO) will both be retiring from the Board. After the merger is completed, Sir Keith Mills will assume the role of Camelot’s chair. This appointment will still require regulatory approvals.
“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.
Robert Chvatal is the CEO of Allwyn Group, and interim CEO at Allwyn UK
Robert Chvatal is the CEO of Allwyn Group and Allwyn UK interim chief executive. He acknowledged that this approval by the Gambling Commission was an important milestone in the company’s journey to become the next operator for the UK National Lottery. He explained that the takeover would facilitate the license transition and “bring together the collective expertise of two highly skilled lottery operators” to make the National Lottery a success.