Allwyn revenue grows 98 per cent in 2023

Home » Allwyn revenue grows 98 per cent in 2023

After a landmark year for Allwyn, the company has reported a 98 per cent year-on-year growth in total revenue for 2023, up to €7.8bn.

Consolidated Adjusted EBITDA sat at almost €1.5bn, underpinned by growth of 12 per cent year-on-year excluding acquisitions.

Having been granted the licence for the UK National Lottery by the UK Gambling Commission, the licence came into effect earlier this year.

Robert Chvatal, Allwyn CEO, commented: “I am pleased to report that 2023 was another year of strong financial and operational performance and strategic progress. We continued to execute our growth strategies successfully, while maintaining our relentless focus on safer play and accountability to all our stakeholders.

“On a reported basis, which includes the impact of the Camelot acquisitions that we completed in the first quarter, total revenue increased 98 per cent year-on-year. Excluding the acquisitions, we delivered strong total revenue growth of 6 per cent year-on-year.

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“This robust performance was underpinned by further progress in digital, which continues to grow as a share of GGR. We sustained momentum in product development and innovation, with a highlight of the year being new launches in the exciting annuity category in Austria, the Czech Republic, and Greece and Cyprus.

“During the year we once again saw the resilience of demand for our products, notwithstanding an inflationary backdrop in which consumer spending remained under pressure. We also continued to deliver solid margins and free cash flow generation, with only a limited impact of inflation on our cost base, reflecting our favourable cost structure, with our largest cost categories being directly linked to revenue, and our focus on cost and capital efficiency.

“With respect to inorganic growth, 2023 was another year of delivery of our strategy, with the acquisitions of Camelot UK and Allwyn LS Group, as well as a further increase in our stake in OPAP in our Greece and Cyprus segment. Since the beginning of 2024, we have successfully started operation of the next 10-year licence for The National Lottery in the UK, in addition to announcing our plan to partner globally with and invest in Instant Win Gaming, a leading supplier of online instant win games. Through our inorganic growth strategy, we continue to expand our footprint and capabilities.”

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