Allwyn has fully completed its business transformation ahead of assuming UK National Lottery stewardship duties next year, finalising its takeover of Camelot Lottery Solutions (Camelot LS).
Acquiring the group from the Ontario Teachers’ Pension Plan Board (OTTPB), the Camelot UK brand and its full support network will now be integrated into Allwyn’s UK business.
Although all companies of the Camelot LS Group will become wholly owned subsidiaries of Allwyn, the firm has asserted that no major changes will be made to the leadership of its new holding.
The multinational company emphasised that following the change in ownership, Camelot LS Group’s business ‘will continue to enhance the performance of the lotteries it supports’.
This follows the acquisition of Camelot UK last month, four months after Allwyn first secured terms to do so, laying the foundations for the firm to cement its position as National Lottery operator.
Speaking at the time, Allwyn CEO Robert Cvatal outlined a ‘common goal’ between the two firms to ‘protect and improve the UK National Lottery and the good causes it celebrates’.
He continued: “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.”
Although Allwyn states that no leadership changes will be made post-Camelot LS integration, the completed takeover of Camelot UK did see some confirmation of management figures.
Notably, Camelot Chief Financial Officer (CFO) Clare Swindell and Commercial Director Neil Brocklehurst have been named joint Co-CEOs of the company.
The duo will ‘lead Camelot through to the end of the third licence’ in January 2024. Meanwhile, Sir Keigh Mills will assume the role of Camelot Chairman from Sir Hugh Roberston.
Allwyn had previously seen off stiff competition from Camelot in the Fourth National Lottery licence tender, which saw its new subsidiary lose its standing as the first and only operator of the lottery, having held the licence from since 1993.
Following approval from the UK Gambling Commission (UKGC) and after seeing off a legal challenge from Camelot – dropped after takeover terms were agreed – Allwyn was green lit to commence management of the National Lottery in a year’s time, on 1 February 2024.
Now a fully owned subsidiary of the Allwyn group, Camelot will continue operating the lottery until 31 December 2023, conducting management throughout the ongoing transition period.