Gambling Commission Gives Go-Ahead for Allwyn to Acquire Camelot
As stated previously, this transaction will help facilitate a smooth transition as Allwyn becomes the operator of The National Lottery under the Fourth Licence from February 2024 – a process which is well underway. Allwyn’s ownership of Camelot will also produce greater clarity and certainty for the future of The National Lottery, for the good causes that it funds and for the employees of both Camelot and Allwyn. Subject to all relevant regulatory conditions being met, Allwyn looks forward to welcoming Camelot into the Allwyn family and working closely on the transition from the Third to the Fourth Licence.
Robert Chvátal, CEO of Allwyn Group and Interim CEO of Allwyn UK, commented: “Today marks an important milestone in our journey to become the operator of The National Lottery. 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.
“We are thrilled to welcome Camelot into the Allwyn family. We are united by our common passion: to protect and improve The National Lottery, and the good causes it supports.”
There are a number of changes to Camelot’s Board and Management team, which will take effect on the completion of the deal. Clare Swindell and Neil Brocklehurst, currently Camelot’s Chief Financial Officer (CFO) and Commercial Director, respectively, will become Co-Chief Executives and will lead Camelot through to the end of the Third Licence in January 2024. Notably, Camelot’s current Chairman Sir Hugh Robertson and CEO Nigel Railton will step down from the Board, amongst others. Sir Keith Mills is expected to be appointed as the new Chair at the closing of the transaction, subject to regulatory approvals.
Clare joined Camelot in 2017 as CFO and was appointed to the Board in September 2019. Before joining Camelot, Clare was Group CFO at dunnhumby and held a number of senior finance roles at Tesco, including as CFO for Tesco.com. Neil has worked for Camelot in a variety of senior roles for 15 years and became Commercial Director in 2018. Neil’s lottery experience includes working in the UK, Ireland and North America within Camelot Global, including as interim Managing Director.
Robert Chvátal, CEO of Allwyn Group and Interim CEO of Allwyn UK commented: “I would like to thank Sir Hugh and Nigel for their contribution to the success of The National Lottery. I am delighted to appoint Clare and Neil as Co-Chief Executives, both of whom have enormous experience in the operation of Camelot and The National Lottery.”
More information HERE.
SOURCE: Allwyn Communication.Tags: Allyn, Camelot, UK Lotteries