The UK Gambling Commission allows Allwyn to obtain Camelot

The UK Gambling Commission allows Allwyn to obtain Camelot

Added:
The UK Gambling Commission allows Allwyn to obtain Camelot

Allwyn obtains Camelot UK Lotteries as per the agreement with the UK Gambling Commission.

In October of 2022, Allwyn stated that it planned to buy Camelot UK Lotteries from OTPP (Ontario Teachers’ Pension Plan). The transaction was known to cost around 100.0 million pounds which is equivalent to 113.9 million in euros and 124.0 million in dollars. 

Upon purchase, Allwyn will take hold of not only Camelot group’s UK operations but also the rights. In particular, holding the fourth National Lottery license, Allwyn will take up the office of National Lottery in February 2024.  

According to Allwyn, the obtaining of Camelot will turn out beneficial for employees, and also set clearer perspectives for the National Lottery.    

Allwyn’s CEO Robert Chvatal mentioned: 

‘’Taking hold of Camelot is an important step in our journey laying the foundation to pass from the 3rd license to the 4th one. The acquisition will also help join forces to leverage cutting-edge technologies of two well-established lottery online casinos. We’re excited to have Camelot in our big family. The perspective we pursue is aimed at making the National Lottery much better, and hereby Allwyn states that contributing to good causes is among its priorities.’’ 

The acquisition came up with shifts in positions tackling especially managerial positions. 

Camelot’s CFO Clare Swindell will be appointed as one of the chief executives. And the other one occupying that position will be Neil Brocklehurst – the commercial director of Camelot. Both of them will hold their managerial positions until in January 2024, recapping the 4th license period. 

Swindle has a track record of holding numerous leading financial positions both in Camelot and outside the company. Having joined Camelot in 2017 as a CFO, Swindle became a board member after two years. And even before joining Camelot, Swindell held senior finance positions at Tesco and Dunnhumby. Brocklehurst also has a rich experience in the industry. He occupied executive positions for fifteen years, including his ad-hoc managerial tenures at different companies. Neil gained lottery experience by working in different countries such as North America, Ireland and the UK within the framework of Camelot Global. 

Unfortunately, these changes didn’t conclude without seeing other officials leaving their positions. Some executives will stand down from their tenures while Keith Mills will come as a replacement to the chairman. Chvatal expressed his gratitude to the former executives for contributing to the development of the company. And he was delighted to see Neil and Clare take up their new roles as chief executives joining forces to take the companies to the next level. 

This month, Ontario Teachers also closed another deal with Allwyn obtaining Camelot which targets the US market.

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