Allwyn hails ‘significant impact’ of Camelot acquisition in Q3 report

Allwyn International said a 98 per cent increase in consolidated group revenue in Q3 was driven by recent acquisitions including UK National Lottery operator Camelot UK.

To add to the jump in consolidated group revenue to €2.01bn, consolidated adjusted EBITDA was €368m in Q3, up 16 per cent year-on-year, with the adjusted EBITDA margin at 41.7 per cent.

Excluding recent acquisitions, adjusted EBITDA was €319m in Q3, a rise of one per cent.

Allwyn said the Q1 acquisition of Camelot has made a “significant impact on consolidated metrics of the group” alongside the acquisition of Allwyn LS Group, the current operator of the Illinois Lottery.

Allwyn CEO Robert Chvatal said: “The steady performance in our existing geographies was underpinned by continued progress in digital, where we see the benefits of our ongoing focus on product development and the customer proposition.

“Alongside this, we continue to successfully roll out of a number of important game innovations, including new launches in the exciting annuity category in Austria, the Czech Republic and Greece and Cyprus. In doing so, we remain focused on our responsibilities to all our stakeholders, including our relentless focus on safe play.”

He added: “Reflecting the strong free cash flow generation of our business model, in our Greece and Cyprus segment OPAP announced a €150m share buyback programme during the quarter. We do not plan to tender shares and therefore expect our economic interest in OPAP to increase marginally as the buyback is carried out, consistent with our inorganic growth strategy.

“In parallel, OPAP has announced that it will not be continuing its scrip dividend programme. We will therefore be receiving all future dividends from OPAP in cash.”