the incumbent lottery operator acquired by a Czech group

the incumbent lottery operator acquired by a Czech group

After several months of discussions, the Allwyn company, controlled by the Czech conglomerate KKCG, announced on Saturday November 19 that it had finalized the takeover of the British Camelot, which had been managing the national lottery for its almost thirty years of existence. Britain’s Labor opposition has in the past raised concerns about the Swiss-based company’s possible links to the Russian regime.

Czech lottery group Allwyn has pulled out the checkbook and shelled out around $110 million (about 106 million euros) to acquire Britain’s Camelot from the Canadian superannuation fund that owns it.

Last March, the UK Betting Commission granted Allwyn a license to run the National Lottery from February 2024.

The operator had mentioned his project: to halve to 1 pound (a little less than 1.15 euros) the price of the lottery ticket, while doubling its charitable investments and buying new digital products. But Camelot, the incumbent, had launched a legal action against its eviction. The British Labor opposition was then worried about possible links with the Russian regime.

Agreement with Russian gas company Gazprom

Allwyn belongs to the Czech giant KKCG, founded by Karel Komarek, the second Czech fortune according to Forbes magazine. The group has activities in real estate, information technologies, but also in oil and gas, through its subsidiary, MND, present in Ukraine. MND had in fact entered into an agreement in 2013 with the Russian gas giant Gazprom to build underground gas storage infrastructure in the Czech Republic.

The takeover could be finalized in the coming months, subject to regulatory clearances, and end legal wrangling.

(With AFP)