Allwyn confirms negotiations with Ontario Teachers’ Pension Plan
The company seeks to purchase UK assets from Camelot.
Allwyn Entertainment has confirmed that the company is currently holding advanced discussions with the Ontario Teachers’ Pension Plan (OTPP). The company said the talks can lead to a possible purchase agreement for Camelot’s UK operations.
Allwyn won the tender for the Fourth National Lottery Licence in the UK from Camelot – providing the context for this potential purchase.
The OTPP is known globally as an independent organization that aids teachers throughout the Canadian province of Ontario at gaining defined-benefit pension. The organization also invests in a pension fund and is known throughout the world as a large institutional investor, acting as a partner for the World Economic Forum.
Any future deal would be subject to regulatory approvals.
The company said in a statement: “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.”
Allwyn uses a “lottery-first approach” as part of its focus on innovation, technology, safety and efficiency to build lotteries that “return more to good causes.” The company has earned positions within the market by using an approach that is centered on recreational play.
Allwyn Entertainment is a publicly listed company on the New York Stock Exchange (NYSE) in partnership with NYSE-listed Cohn Robbins Holdings Corp. (CRHC).
An innovative feature of the recent stock exchange transaction provided CRHC shareholders the opportunity to establish ownership stakes at a maximum enterprise value of approximately $8.7bn.
Allwyn has expanded its global reach to markets throughout Europe in Austria, Czech Republic, Greece and Cyprus and Italy.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
