Allwyn revenue up 28% to €2.11 billion in first-quarter

Finance News

Allwyn International has announced its preliminary unaudited financial results for the three months ended 31 March 2024 and provides an update on recent developments and current trading.

Total Revenue of €2,108.6 million in Q1 2024, +28% YoY, primarily driven by a full quarter contribution from United Kingdom segment (consolidated from February 2023); excluding this segment and Allwyn LS Group (consolidated from March 2023), Total Revenue growth +3% YoY

Adjusted EBITDA of €357.8 million, +3% YoY; excluding United Kingdom segment and Allwyn LS Group, also +3% YoY.

Robert Chvatal, Allwyn CEO, commented: “I am pleased to report that 2024 has started well, with solid operational and financial performance in the first quarter, supported by our ongoing focus on our growth strategies. 

Q1 also included a key milestone in Allwyn’s history, with our successful start of operation of the UK National Lottery under a new 10-year licence. This represented the coming to fruition of many years of dedication by a team from across our geographies, and we are excited to have already started work on transforming The UK National Lottery for the benefit of all stakeholders. 

On a reported basis, which includes a full quarter contribution from the United Kingdom and Allwyn LS Group, Total Revenue increased 28% year-on-year. Excluding both of these, Total Revenue growth was solid, increasing 3% year-on-year.

This performance was once again supported by good growth in digital, as well as ongoing product development and innovation. A highlight in the quarter was the launch of Eurojackpot in Greece, bringing a multi-national jackpot game to our Greek players for the first time, while we also continued to show progress in customer loyalty schemes and the digitalisation of retail.

We delivered solid profitability, with a strong performance from our equity method investees contributing to Adjusted EBITDA growth of 3% year-on-year.