Regulator gives approval to transfer of shares in Camelot Group Limited

MEDIA RELEASE Ref 06/10

8 July 2010

Regulator gives approval to transfer of shares in Camelot Group Limited

The regulator of the National Lottery, the National Lottery Commission, has completed its assessment of the terms of the purchase of shares in Camelot Group Limited by the Ontario Teachers’ Pension Plan (OTPP) and has given its consent to the sale.

The Commission has scrutinised the proposals from OTPP and secured necessary clarifications and improvements to the purchaser’s proposals, as well as completing checks into the fitness and propriety of the purchaser, to ensure that the public interest in the National Lottery is safeguarded.

Mark Harris, Chief Executive of the National Lottery Commission, said:
“Having completed our process of assessing the purchaser’s proposals and gained the necessary assurances to safeguard the Nation’s interest in the National Lottery, the Commission is looking forward to working with the new owners of Camelot to maintain the success of the National Lottery.”

ENDS

For more information contact the Commission’s Press Office on 020 7016 3422 or email c.wotherspoon@natlotcomm.gov.uk or out of hours 07802 849 965

Notes for editors
1. The National Lottery Commission is the non-departmental public body set up on 1 April 1999 to regulate the National Lottery. It ensures that players are treated fairly, the Nation’s interest in the Lottery is protected and, subject to that to secure as much money as possible for good causes.
2. The National Lottery will contribute £2.175 billion towards the costs of staging the 2012 Olympic and Paralympic Games, of which £750 million will come from designated Lottery games including Dream Number, Scratchcards and online games. Over £500 million has been raised from designated games to date. The National Lottery Commission publishes quarterly reports on the progress towards the £750 million target at: http://www.natlotcomm.gov.uk/CLIENT/content.ASP?ContentId=234
3. Camelot Group Plc was awarded the third licence, which came into effect on 1 February 2009. The licence competition was structured to reinvigorate the National Lottery and generate the greatest returns to good causes. Comparing the third licence with the remainder of the second licence and assuming a constant level of sales of £5 billion a year, it is estimated that the third licence will deliver an average annual increase in returns to good causes of between £60 – £100 million.
4. To subscribe to NLC press releases please contact Claire Wotherspoon 020 7016 3422 or email C.wotherspoon@natlotcomm.gov.uk