Camelot has offered to add thousands of new terminals to its network of lottery retailers in return for another five years as the National Lottery operator.

The National Lottery Commission is considering the proposal, which would see 8,000 new terminals added and Camelot’s operating licence extended until 2024.

Camelot was handed a new 10-year contract to run the National Lottery in 2009. The current licence runs until 31 January 2019. It claimed the five-year extension would help it boost revenues for the designated Good Causes by £1.4bn between 2012 and 2024.

“Because our profit margins are so low, we can only make such a large investment in our retail estate and still deliver a return on investment if the commission grants is a five-year extension to the existing licence,” said Camelot sales director Duncan Malyon.

“The significant expansion of our estate, and all that that entails, reiterates our commitment to invest in and support our retail partners.

“Enabling us to make the most of this opportunity as quickly as possible would allow us to maximise the financial and social benefits over the longest possible timeframe, with returns starting to flow just as the UK really needs them.”

The commission’s chief executive, Mark Harris, said: “We will work to carefully evaluate this proposal.

“We will reach a decision following a thorough consideration of whether the proposal is in the best long-term interests of the National Lottery and the thousands of good causes all around the country that benefit from National Lottery funding.”

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