Allwyn Entertainment has confirmed the company will move forward to acquire Camelot’s UK assets from the Ontario Teachers’ Pension Plan (OTPP). The company said that, as of now, no changes will be made to Camelot’s leadership team.
The OTPP, which currently owns Camelot, is known globally as an independent organization that aids teachers throughout the Canadian province of Ontario in gaining defined-benefit pensions.
Camelot LS Group Chief Executive Wayne Pickup said of the pending deal: "We remain committed to serving our customers, engaging players and growing lottery revenue to benefit the communities they serve.
"As the private manager of the Illinois Lottery, we work closely with the Department of Lottery to drive responsible and sustainable growth to maximize revenue for the State of Illinois.
"Combining the resources, expertise, and talent of Allwyn and Camelot LS Group will only strengthen the results we help the State of Illinois and all our customers achieve."
Once the transaction is completed, all Camelot LS Group companies will transfer to Allwyn as wholly owned subsidiaries. Both companies anticipate the deal will close during the first quarter of next year, pending meeting customary closing conditions.
Allwyn CEO Robert Chvátal commented: "We have always viewed the US market as an important part of Allwyn's future growth story, and the acquisition of Camelot LS Group, is the right step.
"Allwyn's goal is building better lotteries, and helping them raise more for good causes, through innovation, technology, efficiency and safety in our quest for enhanced player engagement.
“Both Allwyn and Camelot share a passion about the lottery business, delivering value to our customers, and growing lottery returns to communities."
No further transaction details have been disclosed at this time.
