Camelot bosses may sell-out
Last Updated: Friday 18th June 2010, 12:41
After much chin wagging over the last ten months, Camelot – who run the UK Lotto – are considering a sell out, which would lead to the lottery being floated on the stock market within the next three years. The deal is being looked at closely by some elite private equity firms who may consider teaming up with the Camelot management to run the lottery for the ten year licence which is to be granted next year.
The new licence comes up for grabs in February 2010 and many parties, including Camelot’s senior management are rumoured to be interested in being part of a private equity buyout by several small forms, it would leave them with a lucrative minority stake and allow the company to be floated on the stock exchange.
There are many firms interested in the sale of Camelot, some well known some not so. Firms such as Cinven, who are a major shareholders in bingo operators Gala Coral, plus interest from La Francaise des Jeux, the French Lottery operator behind the Euromillions Lottery game.
This move has come about because Camelot has been put up for sale by four of its five shareholders. Cadbury, Fujitsu, Thales and De La Rue all wish to sell out of the company with just Royal Mail retaining its fifth share for the time being.
It’s been known for a while now that the companies involved wanted to sell out but now February seems to be just around the corner and who knows which direction the fifteen year old UK Lotto draw will take from here.