Allwyn expects Q1 revenue of over €2bn

Allwyn will publish its first quarterly results since it took over the UK National Lottery.

Czech Republic.- Allwyn International has announced that it expects to post revenue of €2bn to €2.05bn in its first quarterly results since taking over the UK’s National Lottery licence. The result would be €500m higher than in Q1 last year.

The company said it had seen robust GGR growth across most of its markets as it continues to focus on organic growth. It noted strong igaming performance in Austria and double-digit growth in its native Czech Republic. It expects adjusted EBITDA of €355m-€365m.

In the UK, Allwyn took over the National Lottery licence in February. It said profitability was down since then due to the introduction of a new mechanism.

Allwyn CEO Robert Chvatal said: “2024 has started well, with trading broadly in line with our expectations. This reflects good operational and financial performance and our ongoing focus on the delivery of our growth strategies.

“Solid momentum in GGR growth continued in the first quarter. Allwyn successfully started the next 10-year licence period of the UK National Lottery. We have delivered further progress in adjusted EBITDA. Allwyn remains well positioned for 2024 and for the next chapters of its growth story.”

Preliminary unaudited financial results will be released on June 7.

Meanwhile, Allwyn has announced that it will move the UK National Lottery headquarters to new offices near the current location. It will remain in Watford but will move to a new development, The Clarendon Works in Clarendon Road, by spring of next year.

The new site is still being built by the developer Regal and is set to be finished next month. Allwyn said it chose The Clarendon Works because it will be powered by renewable energy. It has agreed to pre-let 63,527 sq ft, occupying six floors of the grade-A development. The existing offices in Tolpits Lane offices in Watford were inherited from Camelot UK, which Allwyn bought before taking over the lottery licence itself.