Allwyn completes Camelot LS acquisition
The lottery operator has bought Camelot’s US-facing operation.
The Czech Republic.- The lottery operator Allwyn has completed its full takeover of Camelot from the Ontario Teachers’ Pension Plan Board by buying its US-facing division, Camelot Lottery Solutions (Camelot LS). It had already closed its acquisition of UK National Lottery operator Camelot UK.
Last week, Allwyn reached an agreement with a group of banks to access €335m in accordion loan facilities to finance the purchase. The banks, which include both new and existing lenders, will provide funds for Allwyn International in the form of six-year term loans under its existing senior facilities agreement.
All Camelot LS Group companies will become wholly owned Allwyn subsidiaries. The company says it plans to make no major changes to leadership and that Camelot LS Group’s business “will continue to enhance the performance of the lotteries it supports”.
Allwyn’s acquisition of Camelot UK led to the appointment of former chief financial officer Clare Swindell and commercial director Neil Brocklehurst as joint CEOs.
Allwyn CEO Robert Chvatal said that “common ownership of the operators of both the third and fourth licences will help ensure the successful delivery of the National Lottery both in 2023 and over the next decade.”
Allwyn will take over the UK National Lottery under its own name in February 2024, when the next licence period begins. Camelot UK has run the lottery since its inception in 1994.
See also: Change in approach for UK National Lottery Heritage Fund
