Sir Richard Branson Pulls Out Of National Lottery License Bid

After his third attempt at securing the National Lottery license, Sir Richard Branson has withdrawn his bid, as he is said to be focusing on his own business interests while we are all dealing with the Coronavirus pandemic.

National Lottery Renewal In 2023

The bidding process is already underway as the license for the National Lottery is due for renewal in 2023. Since the National Lottery began 25 years ago, Camelot have held the license, however, the Gambling Commission are asking companies who are interested in the license to make their bids. Parties who are interested are the Czech Lottery Group Sazka, Richard Desmond, the Health Lottery founder and Rothschild.The billionaire businessman who owns Virgin Atlantic Airlines has withdrawn the bid while he turns his attentions to keeping his airline afloat, now that all air travel has been suspended due to the pandemic. Branson called on the UK Government for a loan of £500m and promised to sell Necker Island, his tax free home in the Virgin Islands as pay back but the loan was declined.Branson has promised, “ We will do everything we can to keep the airline going – but we will need government support to achieve that in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for.”Branson made his first bid to acquire the National Lottery back in 1994 but authorities turned down his bid. He made a second attempt in 2000 but Camelot retained the license after having a disqualification over turned. A final decision on the new National Lottery owner will be announced in 2021 and the new operator taking over the helm in 2013.

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