Camelot UK Lotteries has confirmed a number of changes to its Board and Management team following regulatory approval of its proposed acquisition by Allwyn.
Reports of a takeover first emerged in October, with talks said to be at an advanced stage over a £100m deal with Ontario Teachers’ Pension Plan.
Events progressed toward the latter stages of November as the two parties agreed terms to further aid Allwyn as the global lottery operator prepares to take control of the fourth UK National Lottery licence in February 2024.
“Today marks an important milestone in our journey to become the operator of the National Lottery,” remarked Robert Chvátal, CEO of Allwyn and Interim CEO of Allwyn UK.
“Acquiring Camelot will help ensure a smooth transition from the third to the fourth licence, while bringing together the collective expertise and technical know-how of two highly experienced lottery operators.”
Subsequently, Camelot’s Chairman Sir Hugh Robertson will be stepping down from his position upon the closing of the transaction.
“It’s been an enormous privilege to have been Camelot’s Chairman,” Robertson observed. “Since 2017, National Lottery sales have grown from £6.9bn to £8.1bn last year. In the first six months of this financial year, Camelot reported the highest-ever first-half returns to Good Causes in the history of the National Lottery.
“This performance is the result of the commitment of each and every one of my colleagues, to whom I would like to give my heartfelt thanks.”
Robertson will be followed out of the door by CEO Nigel Railton and Executive Director Matt Risdale.
Railton said: “I am so proud of what we at Camelot have achieved since launching the National Lottery and, in particular, the successes since I took over as CEO. I believe we can say with confidence that we delivered on the commitments we made at the time of the strategic review in 2017, and that the plan that we built and executed together has delivered far in excess of what we had forecast.
“I have seen first-hand the incredible difference National Lottery funding makes to communities up and down the country, and know how critical it remains at such a challenging time for the UK.
“The UK National Lottery is in its best-ever shape as we work on the transition to Allwyn UK and I would like to thank my colleagues at Camelot for all they have done, and will continue to do, to ensure the UK continues to have a thriving and healthy National Lottery. I would like to wish everyone at Camelot and Allwyn all the best for the future.”
Meanwhile, Clare Swindell and Neil Brocklehurst, currently CFO and Commercial Director at Camelot respectively, have been appointed as Co-CEO’s. Brocklehurst’s lottery experience includes working in the UK, Ireland and North America within Camelot Global.
Furthermore, Sir Keith Mills is expected to be appointed as the new Chair at closing of the deal.