UK National Lottery Commission approves Camelot sale

Camelot welcomes the announcement made by its regulator, the National Lottery Commission, that it has approved the transfer of shares in Camelot to Teachers’. The completion of the sale to Teachers’, which was initially announced last March 25, was conditional on obtaining this regulatory approval.

Dianne Thompson, Chief Executive of Camelot said: “We are delighted that the National Lottery Commission has given consent to Teachers’ becoming Camelot’s new owner. Teachers’ long-term commitment to Camelot will help ensure The National Lottery’s ongoing success – and enable us to deliver even more money for the Good Causes. We are looking forward to working with them to build on the substantial growth opportunities available to Camelot, both domestically and internationally.”

Now in its third lottery Licence, which runs until 2019 with a possible extension for a further five years, Camelot has raised over us$ 36 billion for the Good Causes and has created over 2,400 lottery millionaires. In June, Camelot announced its second best sales performance since The National Lottery’s launch in 1994 – resulting in the best returns to the Good Causes in a decade. In the year to 31 March 2010, Camelot grew total National Lottery sales to us$ 8,210.5 million – a us$ 455.8 million (5.9%) increase on the previous year’s figure of us$ 7,754 million.

Lee Sienna, Vice-President Long Term Equities at Teachers’, said: “Camelot is a first-class business with excellent long-term domestic and international growth potential. As a pension plan, we take a long-term view of all our investments, and so can provide an environment of stability, commitment and continuity in the businesses in which we invest. We look forward to supporting Camelot’s management team in delivering its plans for the business, and are excited at the prospect of working with Dianne and her team as they continue to build on The National Lottery’s outstanding success story.”