European lottery group Allwyn reported consolidated revenue of €1.64 billion ($1.77 billion) in its preliminary unaudited results for the first quarter ended 31 March, a rise of 80.1% year-on-year.
Robert Chvatal, CEO of Allwyn, said: “I am pleased to report that Allwyn had a strong start to the year, reflecting our ongoing focus on driving organic growth as well as continued progress in our inorganic growth strategy, with the results of the first quarter including the contribution from a total of seven lottery markets.”
The company said that the rise in consolidated revenue was driven by its recent acquisitions, namely its purchase of Camelot UK Lotteries, which was agreed upon in November last year; and Camelot’s US-facing group of companies, Camelot Lottery Solutions, which was completed in March this year. According to the company, excluding these acquisitions, the consolidated total revenue was €1.06 billion ($1.14 billion), which was a rise of just 17% yearly.
“The completion of two landmark acquisitions in the first quarter underscores our continued success in executing our inorganic growth strategy,” continued Chvatal. “The acquisition of Camelot UK, the current operator of the UK National Lottery, supports the successful delivery of the National Lottery through 2023 and over the next decade.”
“The acquisition of Camelot LS Group marks our entrance to the US market as well as providing interesting strategic optionality through its in-house iLottery technology,” he added. Camelot Lottery Solutions runs the Illinois Lottery.
In March last year, Allwyn was announced as the recipient of the fourth UK National Lottery license, ending Camelot’s 28-year tenure. The new iteration of Britain’s national lottery, which will start on Feb. 1 next year, will deploy the company’s technology to boost digital revenue.
According to the company, gross gaming revenue (GGR) totaled €1.58 billion ($1.70 billion) for the period, an increase of 81.4%. Meanwhile, net revenue was €811.2 million ($875.6 million), a rise of 40%. EBITDA was €346.7 million ($374.2 million), a rise of 28.4% compared to the same quarter the prior year.
In terms of operating locations, Allwyn recorded total revenue of €388.4 million ($419.2 million) in Austria, which was up by 19.3% yearly. Total revenue in the Czech Republic and Greece, and Cyprus also rose. For the Czech Republic, total revenue was €125.4 million ($135.3 million), a rise of 17.2%; while in Greece and Cyprus, the total revenue was €552.9 million ($596.8 million), up by 14.6%.
However, in the UK, Allwyn saw a 1.9% dip in total revenues to €1.01 billion ($1.09 billion). Italy also saw a slight 0.6% decrease in total revenue to €584 million ($630.4 million).
Original article: https://www.yogonet.com/international/news/2023/06/13/67514-allwyn-39s-q1-revenue-reaches-177b-driven-by-recent-acquisitions-in-uk-and-us
