Allwyn AG has agreed to a deal with the Ontario Teachers’ Pension Plan Board to acquire the Camelot Lottery Solutions (Camelot LS) group of companies.
The agreement represents an important step in the direction of realising Allwyn’s objective of growing its brand in the US market, as the Camelot LS Group operates the Illinois Lottery under a private management deal through its operating company Camelot Illinois LLC.
Furthermore, the Chicago-based firm is also a partner of the Arkansas Scholarship Lottery, helping to enhance its lottery operations.
Robert Chvátal, CEO of Allwyn, commented: “We have always viewed the US market as an important part of Allwyn’s future growth story, and the acquisition of Camelot LS Group is the right step.
“Allwyn’s goal is building better lotteries, and helping them raise more for good causes, through innovation, technology, efficiency and safety in our quest for enhanced player engagement.
“Both Allwyn and Camelot share a passion about the lottery business, delivering value to our customers, and growing lottery returns to communities.”
Upon completion of the transaction, the companies of the Camelot LS Group will become wholly-owned subsidiaries of Allwyn. The transaction is anticipated to close in Q1 of 2023, subject to satisfaction of customary closing conditions. The terms of the transaction were not disclosed.
Allwyn also expects to close the acquisition of Camelot UK Lotteries Limited – the current operator of the UK National Lottery – in the same quarter, following a similar agreement with the Ontario Teachers’ Pension Plan Board last month.
The lottery operator asserts that, currently, no changes are planned to the Camelot LS Group leadership team in connection with the transaction, and that the business “will continue to enhance the performance of the lotteries it supports”.
Wayne Pickup, Camelot LS Group Chief Executive, added: “We remain committed to serving our customers, engaging players and growing lottery revenue to benefit the communities they serve.
“As the private manager of the Illinois Lottery, we work closely with the Department of Lottery to drive responsible and sustainable growth to maximise revenue for the state of Illinois.
“Combining the resources, expertise, and talent of Allwyn and Camelot LS Group will only strengthen the results we help the state of Illinois and all our customers achieve.”