PRAGUE – Betting giant Allwyn, a unit of the Czech group KKCG, said on Saturday it had completed the takeover of Britain's Camelot, which runs the country's National Lottery.
"The acquisition is anticipated to close in Q1 2023 subject to regulatory approvals, including from the Gambling Commission," Allwyn said in a statement obtained by AFP.
In March, Britain's Gambling Commission, which licenses and regulates gambling, gave Allwyn Entertainment a licence to run the National Lottery from February 1, 2024.
As Camelot owns the licence until then, the takeover will "help facilitate a smooth transition", Allwyn said.
Allwyn, which runs lotteries in multiple European nations, is a unit of the KKCG group owned by Karel Komarek, the second wealthiest Czech according to Forbes magazine.
KKCG's business is focused on entertainment, real estate, IT, as well as oil and gas.
Allwyn bought Camelot from the Ontario Teachers' Pension Plan Board. The terms of the transaction were not disclosed. – AFP, November 19, 2022
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