Allwyn, a finance company, experienced a significant impact from the double addition, doubling its revenue to €368.4m in Q3. Earnings and adjusted free cash flow also saw an increase. Allwyn acquired Camelot UK, the operator of the UK’s National Lottery, and Camelot Lottery Solutions (Camelot LS). The US-facing business has been rebranded as Allwyn North America. CEO Robert Chvatal expressed satisfaction with the progress made by Allwyn in Q3 and believes the company is well-positioned for growth in the future.
Allwyn’s consolidated gross gaming revenue in Q3 increased by 98% to €1.92bn. Net revenue also rose by 38% to €883.3m. Excluding the Camelot acquisitions, total revenue was 1% lower at €1.01bn, with both gross gaming revenue and net revenue seeing a decline. The growth of Allwyn’s revenue was impacted by customer-friendly sports results and unfavorable jackpot cycles. The UK accounted for nearly half of Q3 revenue, while Greece and Cyprus saw a 4% decrease and Italy experienced an 8% increase.
Allwyn’s year-to-date total revenue reached €5.70bn, a significant increase from the previous year. Gross gaming revenue and net revenue also saw substantial growth. Adjusted EBITDA and adjusted free cash flow both increased as well. Excluding the Camelot acquisitions, total revenue was still 7% higher at €3.09bn.
