Revenue climbs for incoming National Lottery operator Allwyn as it scoops up Camelot
Incoming National Lottery operator Allwyn said revenue continued to climb steadily in the third quarter as the gambling giant gears up to takeover the lucrative government licence.
Allwyn said revenue jumped 11 per cent in the recent quarter to €958.6m, whilst consolidated adjusted EBITDA was up 10 per cent to €319.9m.
In September, the Czech based firm was formally awarded the Fourth Licence to operate the UK National Lottery for a decade starting in February 2024, following the Gambling Commission’s earlier announcement that we were the preferred applicant.
Camelot, which is owned by Ontario Teachers’ Pension Plan Board, initially challenged this decision, arguing that the gambling watchdog did not properly evaluate the risk of its rival’s proposals, and questioned the processes behind the competition.
Legal action was eventually dropped and under the new acquisition agreement, announced this morning, Camelot will continue to be operated separately.
“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,” Allwyn CEO Robert Chvatal said this morning.
The firm confirmed it had signed €1.6bn (£1.3bn) in senior financing in the fourth quarter