National Lottery operator Camelot sold to Canadian firm for £389 million
National Lottery operator Camelot sold to Canadian firm for £389 million
Friday 26th March 2010
National Lottery operator Camelot has been sold to a Canadian pension fund for £389 million, both groups have confirmed.The sale to Ontario Teachers' Pension Plan will now be looked at by the National Lottery Commission before it's formally approved.
Lee Sienna, vice president, of the Canadian fund said on Thursday: "Camelot is a world-class lottery business with substantial opportunities to grow both domestically and internationally."
Camelot has been running the National Lottery since it began in 1994. In 2009 it was awarded a third licence which is set to run for a decade.
The Lottery has raised more than £24 billion for heritage and educational schemes over the last 16 years and Camelot chief executive Dianne Thompson said she hoped even more funding could be secured in the future.
"We welcome Teachers' [Ontario Teachers' Pension Plan] commitment to the National Lottery's ongoing success," she said.
Ms Thompson added Camelot was looking forward "to the opportunity of working with them to continue our progress in developing the business and delivering even more money for the good causes".
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