Camelot is set to lose its licence to run the National Lottery after three decades after rival Allwyn was named preferred bidder to take over from 2024.
The Gambling Commission, which made the selection, said Allwyn’s investment commitments would mean “growth and innovation” for the lottery resulting in increased contributions to good causes.
Camelot has run the National Lottery over three licence periods starting at its launch in 1994 – and this time faced a wider field of rivals for the new licence than at any time since then, with four applications at the final stage.
While missing out this time to Allwyn, it was named “reserve applicant” in case of a snag preventing its rival from taking over in 2024.
Andrew Rhodes, chief executive of the Gambling Commission, said: “We look forward to working with all parties to ensure a smooth handover.”
The commission said it was “content that all applicants are fit and proper to operate the National Lottery” and “satisfied that no application is impacted by sanctions related to the conflict in Ukraine”.