Czech tycoon takes over National Lottery on course to rake in £600m
A Czech tycoon’s hopes of taking over the national lottery got a boost yesterday when a major legal challenge was dropped – bringing him closer to a near £600million windfall.
Karel Komarek, pictured right with his wife Stepanka, owns gaming giant Allwyn and will take home the bulk of the payout if a proposed £8billion float takes place in New York.
The listing was called into question when Camelot – which has operated the National Lottery since its inception in 1994 – appealed after losing the contract to Allwyn.
He could be: Karel Komarek (pictured with wife Štěpánka), who owns Allwyn, will receive the bulk of the payout if a proposed £8billion float takes place in New York
Camelot withdrew his appeal Monday night, paving the way for the Gambling Commission to officially grant Allwyn the national lottery license.
The withdrawal will be a major boost ahead of a crucial vote today asking shareholders of Cohn Robbins, a specialist acquisition firm, to approve a deal to buy Komarek’s company.
If the deal is approved, the companies will merge and Allwyn will go public, with Komarek raking in a payout of nearly £600m.