Camelot Lottery Investments Intend to Boost Sales

Published Thursday, June 15, 2017 - Online-Casinos.com
Camelot Lottery Investments Intend to Boost Sales

The U.K.’s National lottery has been experiencing a recent downturn in generated revenues and it intends to review its situation and remedy it.  Camelot, has said it is to conduct an in-depth review of its strategy after it revealed an 8.8% drop in sales of its product to £6.92bn (€7.86bn/$8.8bn) for 2016/17, from £7.59bn for the previous year. This year however was the fourth highest sales on record in Camelot’s history but it is facing increased competition from other lottery providers such as Lottoland which are not compelled to share any of their revenues with charity organizations.

Camelot was purchased in March of 2010 by the Ontario Teachers' Pension Plan in Canada for £389m. The Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada With $175.6 billion in assets as of December 31, 2016.

The strategy review announced will aim its sights on four key areas, those being commercial plans to boost sales performance, more investment in technology and systems, the current structure of the business and long-term succession.

Chairman of Camelot’s board, Jo Taylor, commented on the review,  “Achieving the fourth-highest ever sales, creating a record number of lottery millionaires and raising over £30 million every week for Good Causes is no mean feat.

"However, sales in 2016/17 fell well short of where we’d like them to be – and that’s largely down to a disappointing year for draw-based games and Lotto in particular.

"It will therefore take time to turn things around and I anticipate a further sales decline this year.

"I am, however, confident that the review will enable us to put the business on the best possible footing to get back into growth – and so deliver even more for our players and the millions of people for whom National Lottery funding is so crucial over the remainder of this licence period.”

 

 

 

 

 

 

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