Allwyn and OTPP in talks over potential acquisition of Camelot UK operations31st October 2022 10:54 am GMT
European lottery operator Allwyn is in talks with the Ontario Teachers’ Pension Plan regarding a potential purchase of Camelot’s lottery operations in the United Kingdom.
Allwyn confirmed over the weekend that the company is in advanced discussions with Ontario Teachers’ Pension Plan (OTPP) regarding a potential purchase of Camelot’s UK operations, with any future deal being subject to regulatory approvals.
The Ontario Teachers’ Pension Plan has served as Camelot’s sole shareholder since acquiring the business in 2010 for approximately £389m, with the current sale discussions following Allwyn’s selection as the new National Lottery operator to replace Camelot from March 2024.
Allwyn said in a statement Saturday that its shared objective with OTPP is to reach an agreement which would best serve the interests of the many stakeholders of The National Lottery, in particular the good causes it supports, as well as the employees of Camelot and Allwyn UK.
Camelot UK has approximately 1,000 employees at its UK headquarters in Watford.