Allwyn sees giant 80% leap in total revenue for Q1

Updated:2024-03-31 08:57    Views:62

Allwyn International has posted its Q1 financial report showing that it made €1.6bn ($1.73bn) in total consolidated revenue – representing an 80% rise on Q1 2022.

Meanwhile, its adjusted EBITDA stood at €346.7m, a 28% increase on last year, which reported €269.9m. Net revenue also saw a significant increase annually, with Allwyn’s Q1 showing it made €811.2m, 40% higher than in Q1 2022.

The figures are inclusive of Allwyn's acquisitions since Q1 2022, including Camelot UK and the Camelot LS Group, the latter of which operates the Illinois Lottery in the US.

Without those acquisitions, Allwyn's total revenue stood at €1.06bn – representing a 17% increase year-on-year. Meanwhile, it had an adjusted EBITDA of €325.5m, a 20% rise. 

Robert Chvatal, Allwyn CEO, commented on the report: “I am pleased to report that Allwyn had a strong start to the year,Online Casino Games reflecting our ongoing focus on driving organic growth as well as continued progress in our inorganic growth strategy, with the results of the first quarter including the contribution from a total of seven lottery markets. Meanwhile, we have remained focused on our responsibilities to all our stakeholders and on safer gaming.”

The graph shows Allwyn's significant Q1 rise in both total consolidated revenue and net revenue 

During Q1, Allwyn – which is due to take over the UK National Lottery in February 2024 after winning the race for the Fourth National Licence against the incumbent Camelot – bought Camelot UK, which runs the company’s lottery operations in the country.

Camelot UK will be absorbed into Allwyn’s forthcoming tenure of the licence in a move that came as a surprise to many. Camelot had tried desperately to keep hold of the licence it has held since the inception of the UK National Lottery in 1994, by dragging the Gambling Commission and Allwyn through the courts.

The tactic, which worked with the Third National Lottery Licence and Virgin’s successful bid, failed in the end.

Chvatal added: “Our total revenue increased by 80% year-on-year in Q1 2023, reflecting strong growth of 17% in our existing geographies as well as the first-time contributions of the UK, following the acquisition of Camelot UK, and Camelot LS Group, operator of the Illinois Lottery under a private management agreement.”

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