September 26, 2022

Subsequent Nationwide Lottery operator admits Russian sanctions might hit enterprise as a result of mother or father firm’s hyperlinks to Gazprom

Russian hyperlinks: Allwyn Leisure received the contract to run the Nationwide Lottery from 2024

The Nationwide Lottery’s subsequent operator has admitted sanctions related to the Russian invasion of Ukraine might have an effect on the enterprise.

Allwyn Leisure received the contract to run the Nationwide Lottery from 2024 – however questions have been raised over its mother or father firm’s hyperlinks to Russian gasoline large Gazprom.

The founder, Czech billionaire Karel Komarek, may very well be in line for a $750million (£572million) pay day when he lists Allwyn on the New York Inventory Trade.

The 53-year-old made a lot of his fortune from investments in oil and gasoline after the tip of the Chilly Battle however final month he began to chop hyperlinks to Gazprom. 

The billionaire additionally condemned the Russian invasion of Ukraine final month.

Allwyn’s mother or father firm KKCG runs a gasoline storage enterprise with Gazprom within the Czech Republic however is taking a look at methods to finish the Russian agency’s involvement.

However an investor presentation for Allwyn warned: ‘The battle between Russia and Ukraine, and associated sanctions might negatively affect us.’

Allwyn received the contract for the Nationwide Lottery from Camelot earlier this 12 months after the Playing Fee awarded it a five-year licence. 

However the deal might stall, as Camelot is taking the Playing Fee to court docket for stripping it of the licence after 25 years.

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