In this year’s pantomime, returning star Julian Clary will perform, while Beverley Knight will make her Palladium panto debut alongside Britain’s Got Talent winners Diversity, Charlie Stemp, Jac Yarrow, Nigel Havers and Gary Wilmot will also return to the panto.
The National Lottery plan is also part of the Department of Digital, Culture, Media and Sport’s Operation Cinderella.
Culture secretary Oliver Dowden said: “Today, we launch Operation Sleeping Beauty.
“We must hope for the best and plan for the worst. Our hope is to get some panto back on this Christmas, and despite the very challenging backdrop we are going to give it our best shot."
Michael Harrison, director and producer of Pantoland, the regular show, said: “This initiative will be a lifeline for those venues, whilst enabling us to provide much needed uplifting entertainment at such a challenging time.”