Revolutโข Founder Joins โฃRichard โDesmond inโฃ Tax โคHavenโ as Lottery Disputeโ Intensifies
DUBAI, UAE – Nikolayโ Storonsky, founder and โCEO of fintech giant โRevolut, has relocated his tax โresidency to theโ United Arab Emirates, coinciding with โRichard Desmond’s ongoing legal battle over the awarding of the National Lottery license to Allwyn. The moveโฃ by Storonsky, โreported by โ City A.M., adds another layer to a complex โขsituation involving high-profileโข figures and a multi-billion pound contract.
Desmond’s โคNorthern & shell, previously the owner of the Daily Expressโ and OK! Magazine, lost out โto Allwyn in the fiercely contested โbidding process for โthe ten-year National Lottery licence. Northernโค & Shell is now pursuing a ยฃ1.3 billionโ lawsuit alleging irregularities in the โprocess, claiming โthe Gambling Commission failed โฃto adequately โฃaddress conflicts of interest and breachesโ of protocol.
Desmond’s legal team argues that Allwyn engagedโฃ in unauthorized media engagement and criticism โฃof the existing National lottery operator, Camelot, inโ violation of theโ Media โคand โCommunications Protocol. They โcontend the regulator did not properly investigate these โalleged breaches, which they believe should have disqualified Allwyn.
The lawsuit also focuses on the role of Rothschild,the financial advisor appointed โฃby the Gambling Commission toโ oversee the licence competition. Northern & Shell alleges a conflict of โขinterest existedโ as rothschild had a pre-existingโค commercial relationship with Allwyn, and the Commission โfailed to identify or โresolve this.
northern & Shellโค has already incurred costs of almost ยฃ20โ million in its bid for the lottery contract โฃand is โฃseeking compensation for lost profits โand wasted bid expenses. the outcome of the legal challenge could significantly โขimpact the future operation of the National Lottery andโค raise questions about the transparencyโค of the bidding process.