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British National Lottery For Sale
11/7/09 - The UK's national lottery Camelot's five shareholders have asked potential buyers to submit offers before the end of November in a bid to offload the lottery and realise what some analysts say could be as much as GBP 300 million.
Shareholders Cadbury Schweppes, Royal Mail Enterprises, De La Rue, Fujitsu Services and Thales Electronics are reportedly keen to sell off the lottery and were in discussions on the best way to approach such a deal earlier this year .
"The whole company is up for sale," a banker close to the deal told the Reuters news agency this week.
Sir Richard Branson's Virgin Group, along with private equity houses and overseas lottery operators are believed to be among those who may be interested in the acquisition. Sugal & Damani, the Indian lottery giant that bid for the UK lottery licence two years ago, has also been suggested as a buyer.
Camelot makes an annual profit of about GBP 30 million. 80 percent of Camelot’s income over ten years is believed to be worth about GBP 280 million.
In their bid for the licence back in April 2007, the current shareholders agreed with the government's National Lottery Commission to cut costs from 5 percent of turnover to 4 percent and reduce profits from 0.5 percent to between 0.3 and 0.4 percent.
Since then, lottery ticket and scratchcard sales have risen, despite the recession. Any buyer would have to be approved by the commission.
Camelot’s undertaking to provide GBP 2.2 billion for the 2012 Olympic Games in London will ensure that any sale is monitored closely by the British government.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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