Sir Richard Branson partners up to control Camelot


80 percent of Camelot the target

The Times reports that Sir Richard Branson is to partner up with an unidentified investment company and the Dutch-owned People's Postcode Lottery (PPL), in a bid for control of Camelot, the UK's National Lottery operator. The consortium is reportedly interested in acquiring an eighty percent stake in the operator.

In April, four of Camelot's five shareholders — Thales, Fujitsu, Cadbury and De La Rue — appointed Greenhill and Rothschild, the investment banks, to advise on a possible sale of their individual 20 percent stakes . The intentions of Royal Mail, which owns the other 20 percent, are uncertain.

The likely sale price is not known, although analysts predict that an 80 percent stake could fetch between GBP 200 million and GBP 250 million.

Sir Richard, who has twice lost out to Camelot in the bidding for the National Lottery licence, is tipped to plough back the dividends currently paid to its five shareholders into charitable causes.

PPL is part of Novamedia, a charity lottery group founded by Boudewijn Poelmann, a Dutch entrepreneur who is a founding shareholder in City AM, the free financial newspaper, and a board director at Feyenoord, the Dutch football club.

Novamedia has operations in the Netherlands, Sweden and, since 2005, Britain and claims to have given more than €3.5 billion (£3.1 billion) to charities. PPL has recently launched a nationwide rollout across Britain, working with 5,000 local retailers.

There are said to be as many as 20 prospective bidders for the Camelot stake, including Sugal & Damani, the Indian lottery operator. The deadline for offers is next Wednesday.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

3mins ago someone from us flag United States read article Paf Teams Up with Proactive Gaming to Develop New Bingo Product

Bingo Community

Share this page on:
Follow LBB on:
Follow LBB

Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h

Totals

  • New Members
    3
  • Members Online
    15
  • Guests
    885


eighteen plus only

Follow LBB on Facebook Follow LBB on Twitter Follow LBB on Pinterest Follow LBB on Google plus

DON'T MISS OUT!

Subscribe to our newsletter and get access to tournament codes, the biggest and best exclusive offers, new brand alerts, rogue reports and more!

Enter your email adress:

T&C's Apply. 18+


You have been successfully subscribed to receive LBB newsletter!