The National Lottery Commission (NLC) has finalised terms with Camelot Group plc to operate the National Lottery today Camelot beat off competition from rival bidder, Indian company Sugal & Damani to retain rights for a further ten years (MW 9 August).
NLC awarded Camelot the licence, which will expire in February 2019, because it believes it will be better able to increase the level of cash given to charitable causes than the rival bidder.
Today’s announcement means that a draft licence and enabling agreement have been finalised and formal terms have been agreed.
NLC chair, Dr Anne Wright CBE says: “Following the completion of a hard-fought competition we are pleased to have finalised terms with Camelot Group. Our job is to work with them to ensure a smooth transition to the new licence whilst maximising returns over the current licence period.”
It says that new technology such as retailer operating systems, will by fully operational for the start of the new licence period (August 31).