Allwyn revenues rise 80 per cent

Allwyn International CEO, Robert Chvatal, said the company has enjoyed a “strong start” to 2023 after it reported an 80 per cent year-on-year increase in total revenue.

Total revenue jumped from €914m in Q1 2022 to €1.65bn in the most recent trading update, with gross gaming revenue rising 81 per cent to €1.59bn.

Net revenue rose 40 per cent to £811.2m, with adjusted EBITDA for Q1 up 28 per cent to £346.7m.

Excluding Allwyn’s recent acquisitions of Camelot, the current operator of the UK National Lottery, and the Camelot Lottery Solutions group of companies, consolidated adjusted EBITDA was up 20 per cent year-on-year to €325.2m.

Chvatal said the results reflected Allywn’s “ongoing focus on driving organic growth” as well as continued progress in its inorganic growth strategy, with the Q1 results including the contribution of seven lottery markets.

“The strong performance in our existing geographies was driven by further progress in digital channels and our continued focus on the customer proposition in physical retail, as well as some impact from COVID-19 on last year’s numbers,” he added.

“We once again saw the resilience of demand for our products, even in an environment where consumer spending remains under pressure.”