Camelot Will Keep Its License Says Citigroup
Citigroup has issued remarks saying it is highly probable for London-based Camelot Group plc. to maintain its license to operate Britain’s National Lottery from 2009, which significantly slims the chances of Tattersall in winning its bid against Camelot.
In its note to clients, Citigroup pointed out that the majority of the lottery industry — who knows the U.K. gambling market very well — actually expects Camelot to grab the license for a third term.
Citigroup noted that for the past three years, Camelot has brought in a compound annual ticket sales growth of 4.4% which clearly indicates Camelot’s solid success in establishing a reliable professional history in running the lottery in the U.K.
In terms of actual payouts, projects relating to “good causes” are the recipient of 28% of Camelot sales while another 12% goes to the U.K. government for the permission to operate the National Lottery.
In previous interviews, Tattersall’s chief financial officer Ray Gunston had said that it was ready to operate using the same terms being implemented currently by Camelot.
The National Lottery Commission in U.K. launched the competition for the 10-year license to run U.K. lotteries from 2009 last month.
Tattersall has until December 15 to bid for the 10-year license.