UK National Lottery Sold
25th March 2010 11:02 PM
Breaking news tonight is that the UK National Lottery has been sold after months of speculation and for higher than the estimated value. In the last few weeks we have brought you many news stories about Canadian Lottery players vying for one of the biggest lottery jackpots the nation has ever seen and now Canada really has hit the jackpot. The Ontario Teachers’ pension plan has just purchased the UK National Lottery for £389 million in the deal, which is yet to be approved by the National Lottery Commission.
The company already has stakes in various major organisations such as the Scotia Gas Works PLC and both Birmingham and Bristol airport in the UK. With assets in the tens of billions the Ontario Teacher’s Pension Fund looks after the pension plans of over 284,000 teachers.
The UK National Lottery has been run by the same organisation since its launch in 1994 so this may mean some major changes for the lottery. Only time will tell what those will be but you can be sure we’ll be bringing you any new changes and development on the World Lottery news pages.
The lottery chief executive released a statement this evening to say he welcomes the move by the Ontario Teacher’s Pension Plan. He believes that working alongside the company will offer even more for players and especially more for good causes.
With rumours stirring for months about four separate companies making moves towards a buy-out it turned out that just one stepped up to the mark, and for more than the estimated value too. It’s possible that the deal will come as a major blow to some of the companies hoping to secure the lottery and now only time will tell what will happen next.
Written by Kath C
Page Last Updated: 03/05/2010 15:23:50
