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UK: Camelot loses lottery license to Allwyn Ent after 28 years

UK: Camelot loses lottery license to Allwyn Ent after 28 years
UK: Camelot loses lottery license to Allwyn Ent after 28 years

Camelot, the National Lottery operator of UK, is reportedly set to lose its 28 years old national lottery operating license. The UK Gambling Commission has supposedly selected rival Allwyn Entertainment as its favored applicant that would take the venture forward.

Camelot, which was vying for its fourth lottery license, had been in charge of the UK National Lottery ever since its inception in 1994.

However, the decision to turn down the company has already sparked major controversy after it was revealed that Allwyn may have ties to the Kremlin.

In 2016, the firm's owner, Karel Komarek, a Czech billionaire, had worked on a JV with Gazprom, the Russian state-controlled energy company, to create an underground gas storage unit in his homeland.

Alex Davies-Jones, the Labour's shadow minister for technology, gambling, and the digital economy, stated that the government must confirm that it is confident that this corporation has no ties to Kremlin and the Russian regime.

The Gambling Commission is believed to have been impressed by Allwyn's bold ideas, which include lowering prices for tickets from £2 to £1 and holding two drawings on the same night.

It also promised to donate £38 billion to worthy causes within the next ten years, not much shy of the £45 billion raised by Camelot in its 28 years.

Andrew Rhodes, Gambling Commission's CEO, stated that the National Lottery has raised over £45 billion for good causes in its existence and is rightfully considered as a wonderful national asset. The commission’s main goal was to hold a competition that will draw a large number of applicants.

The commission’s verdict is anticipated to be confirmed at a later time this year, with the handover to the future operator scheduled for 2024.

Nigel Railton, Camelot's CEO, stated that the verdict has been very disappointing.

Railton added that before deciding on the future moves, Camelot is carefully analyzing the evaluation of the Gambling Commission.

Source credit: https://www.independent.co.uk/news/uk/home-news/national-lottery-caemelot-loses-licence-b2035943.html

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.