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National Lottery operator Camelot is set to lose its licence to run the lottery after 28 years as the Gambling Commission names rival Allwyn Entertainment as its preferred applicant to take on the venture.
The final decision is expected to be confirmed later this year with a transfer to the new operator set to be completed by 2024, it added.
Camelot CEO Nigel Railton told City A.M. this morning he is “incredibly disappointed” by today’s announcement.
“We still have a critical job to do – as our current licence runs until February 2024. We’re now carefully reviewing the Gambling Commission’s evaluation before deciding on our next steps,” he added.
“I’m enormously grateful to our 1,000-plus employees who have been unwavering in delivering record-breaking results during the current licence,” Railton continued.
“I know they remain absolutely determined to build on our four and a half years of successive sales growth – which has seen us achieve record sales in each of the last two years, resulting in the best-ever returns to Good Causes from ticket sales last year.”