Allwyn reports strong quarterly results

Gross gaming revenue rose 23 per cent year-on-year to €902m.

Czech Republic.- The rebranded Czech lottery and gaming giant Allwyn has reported strong results for the second quarter. The company, which has won the licence to run the UK National Lottery from 2024, reported gross gaming revenue of €902m, up 23 per cent against Q2 2021.

It said it had seen “continued organic growth and a more normalised operational environment in certain geographies” despite the challenges of higher inflation in some markets. It said that the impact of inflation on demand for its products had been limited due to its “low price point and low average spend per customer” combined with the large number of regular players.

Consolidated adjusted EBITDA rose by 17 per cent to €277.1m and the adjusted EBITDA margin fell to 50 per cent. Online sales contributed 44 per cent of revenue in the Czech Republic, an increase from 38 per cent in 2021.

For H1, GGR was up 41 per cent at €1.77bn. NGR rose 50 per cent to €1.08bn and adjusted EBITDA 45 per cent to €543.8m.

Allwyn CEO Robert Chvatal said: “I am pleased to report that in the second quarter of 2022, Allwyn delivered yet another set of strong financial results and continued to make good progress on key strategic initiatives as part of our organic and inorganic growth strategies.”

Camelot, the current operator of the UK National Lottery, is taking legal action over the Gambling Commission’s decision to award the next licence to Allwyn. In July, the High Court reversed the OK for the transition period to begin.

Chvatal said: “We look forward to the Court of Appeal hearing in September of the current operator’s appeal of the High Court’s decision to allow the licence award to proceed and the formal transition period to begin.”