It appears that Allwyn Entertainment, the Czech gaming powerhouse, is engaged in serious negotiations to acquire its competitor, Camelot UK, the present administrator of the UK National Lottery.
The parent organization of Camelot, the Ontario Teachers’ Pension Plan (OTPP), is contemplating the sale of its UK branch to Allwyn, the entity that initially secured the bid for the upcoming National Lottery license in March. Although some legal obstacles arose during the transfer due to Camelot’s initial contest of Allwyn’s selection, they withdrew their appeal in September.
Just as everyone assumed the matter was settled, reports emerged that Allwyn and OTTP are engaged in preliminary dialogues. Insiders indicate they are discussing a transaction valued at a substantial £100 million (approximately $115 million). Should this agreement materialize, it implies that Allwyn could assume control earlier than anticipated.
Initially, their takeover was scheduled for February 2024. While Allwyn has acknowledged the acquisition discussions, they are currently withholding the financial specifics.
However, they did issue a statement underscoring their dedication to a seamless changeover that advantages all parties involved, particularly the charitable endeavors supported by the National Lottery, and naturally, the staff of both Camelot and Allwyn UK.
The news organization also reported that the lottery operator would cease legal action if the acquisition proceeds.
While the company previously withdrew its objection to the competitor receiving the permit in September, it continues to pursue litigation against the regulatory body regarding a distinct allegation.
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