Allwyn secures €335m loan facility to aid Camelot acquisition
Lottery operator enters into €335m of accordion loan facilities over six-year term loans
Allwyn has secured €335m (£297m) of accordion loan facilities with a syndicate of international banks, including both new and existing lenders used by the operator.
The lottery giant will use the funds to finance the acquisition of the Camelot Lottery Solutions group of companies, which the firm announced in January 2023.
The money will also be used for general corporate purposes.
The deal to buy Camelot Lottery Solutions came after Allwyn announced it was in talks to buy Camelot UK, with the proposal already receiving approval from the UK Gambling Commission (UKGC).
Allwyn will take over operations of the UK National Lottery from 1 February 2024 after being awarded the fourth UK National Lottery licence last year by the UKGC.
The incumbent UK National Lottery announced last month that current Allwyn Group CEO, Robert Chvátal, will be appointed as interim CEO of its UK business to aid in the transition process.
Allwyn also announced plans to appoint Clare Swindell and Neil Brocklehurst as co-CEOs to lead Camelot.
On the loan agreement, Kenneth Morton, Allwyn CFO, said: “This transaction will help us continue to grow our business, building on our successful €1.6bn syndicated bank financing in November 2022.
“I am grateful to our existing lending partners for their continued support and pleased to welcome the new banks to the group.”
Chvátal sat down with EGR Intel to discuss Allwyn’s ambitions to breathe new life into the UK National Lottery.