Allwyn in surprise talks to buy Camelot

Allwyn Entertainment, with the licence to run the UK Lottery safely in its pocket, is now in talks to buy the outgoing licensee, Camelot UK.

The deal, reputed to be £100m, would at a stroke remove Camelot’s remaining legal challenge to the regulator’s decision to grant Allwyn the licence from February 2024.

It would give Allwyn access to the remaining period of approximately one year of Camelot’s earnings. Camelot is still suing for compensation.

In a statement Allwyn said: “In response to speculation, we can confirm that Allwyn is engaged in advanced discussions with Ontario Teachers’ Pension Plan  which may lead to it purchasing Camelot’s U.K operations. If an agreement were to be reached, it would be subject to regulatory approvals. Our shared objective is to reach an agreement which would best serve the interests of the many stakeholders of The National Lottery, in particular the good causes it supports as well as the employees of Camelot and Allwyn UK.”