Allwyn reports strong second-quarter as revenue tops €900m
Allwyn together with its subsidiaries, joint ventures and associates, has announced its preliminary unaudited financial results for the three and six months ended 30 June 2022 and provides an update on recent developments and current trading.
Gross gaming revenue of €902m, +23% YoY, reflecting continued organic growth and a more normalised operational environment in certain geographies after full reopening of physical retail business across our operations. Adjusted EBITDA margin was 50%.
Robert Chvatal, Allwyn CEO, commented: “I am pleased to report that in the second quarter of 2022, Allwyn delivered yet another set of strong financial results and continued to make good progress on key strategic initiatives as part of our organic and inorganic growth strategies.
We reached an agreement with OPAP to acquire OPAP’s 36.75% interest in Kaizen. Kaizen is a fast- growing online sports betting and iGaming operator using proprietary gaming technology, founded by the same team that founded Stoiximan. The company operates under the Betano brand and is present in seven markets, with a particularly strong presence in Romania and Portugal and a rapidly growing business in Brazil. I have great admiration for what the team has achieved at Stoiximan and am excited about the future of Betano. Closing of the transaction is pending customary regulatory approvals and is expected in Q4.
Following the March announcement that we have been selected as the Preferred Applicant for the fourth UK National Lottery licence by the UK Gambling Commission, we continue with our preparations to take over as operator of the UK National Lottery once the Gambling Commission confirms the award of the fourth license. We look forward to the Court of Appeal hearing in September of the current operator’s appeal of the High Court’s decision to allow the license award to proceed and the formal transition period to begin.