Allwyn International, a global gaming giant, has unveiled its Q1 2024 financial results. The company reported a robust 28% increase in total revenue, hitting a high of €2.11bn. This surge was largely fuelled by the UK segment and the Allwyn LS Group.
Excluding these, Allwyn still saw a 3% growth in total revenue. Gaming activities revenue soared by 27% to €2.02bn, while net revenue climbed by 16% to €940.9m. Adjusted EBITDA rose by 3% to €357.8m, despite a 4.7 percentage point drop in the adjusted EBITDA margin.
Capital expenditure (CAPEX) skyrocketed by 84%, totalling €45.0m. This was mainly due to increased investment in the UK to support Allwyn’s transformation plans for the UK National Lottery.
In Q1 2023, Allwyn acquired Camelot UK, the operator of the UK National Lottery until 31 January 2024, and Allwyn LS Group, the operator of the Illinois Lottery. These acquisitions have impacted the company’s consolidated metrics.
CEO Robert Chvatal expressed satisfaction with the company’s performance. He highlighted the successful start of operation of the UK National Lottery under a new 10-year licence.
Allwyn also announced plans to acquire a 70% ownership interest in Instant Win Gaming (IWG), a supplier of online instant games. This transaction is expected to close in the second half of 2024.
Financially, Allwyn raised €500m through a bank facility in March 2024 and syndicated a $450m Term Loan B facility. As of 31 March 2024, the company’s net debt to adjusted EBITDA ratio stood at 2.1x.
Allwyn continued its corporate social responsibility initiatives. The company partnered with the Peace Race for the second consecutive year, supporting the cycling tour aimed at promoting peaceful cooperation within central Europe.
