Allwyn revenue almost doubled in 2023
The former Sazka has reported revenue of €7.87bn following its Camelot acquisitions.
Czech Republic.- The Czech gaming giant Allwyn has reported a 97.5 per cent leap in revenue for 2023. Revenue of €7.87bn was boosted by acquisitions of Camelot as the group prepared to take over the running of the UK National Lottery this February.
Gross gaming revenue (GGR) was up 98 per cent at €7.54bn. Discounting the acquisition of Camelot, revenue would have been €4.24bn and GGR would have been €4.07bn, up 6.4 per cent and 6.8 per cent.
UK revenue was actually down 3.9 per cent at €3.92bn, which Allwyn said was due to limited opportunities for product and channel growth at the end of Camelot’s licence. Revenue from Greece and Cyprus rose 7 per cent to €2.18bn, revenue from Italy rose 2.3 per cent to €2.29bn.
Austrian revenue reached €1.53bn and Czech revenue €519.3m, a rise of 10.2 per cent attributed to the strong performance of Numerical Lotteries, Instant Lotteries and igaming. Operating EBITDA was €1.33bn, up 17.8 per cent, and total adjusted EBITDA was €1.48bn, up 27.1 per cent.
Allwyn CEO Robert Chvatal said: “I am pleased to report that 2023 was another year of strong financial and operational performance and strategic progress. We continued to execute our growth strategies successfully, while maintaining our relentless focus on safer play and accountability to all our stakeholders.
“2023 was another year of delivery of our strategy, with the acquisitions of Camelot UK and Camelot LS Group, as well as a further increase in our stake in OPAP in our Greece and Cyprus segment. Through our inorganic growth strategy, we continue to expand our footprint and capabilities.”
Allwyn took over the UK National Lottery in February under a ten-year licence after winning the Gambling Commission’s tender for the fourth National Lottery licence. Having lost the licence for the first time since the lottery’s inception in 1994, Camelot, the incumbent operator, took legal action over the decision. However, Allwyn reached agreements to buy both Camelot UK and US-based Camelot LS from the Ontario Teachers’ Pension Plan. Camelot LS has been rebranded as Allwyn North America.
Allwyn obtains credit facility for Instant Win Gaming acquisition
Meanwhile, Allwyn International has secured a $500m accordion facility underwritten by a syndicate of international banks for a period of six years, as part of the firm’s existing Senior Facilities Agreement (SFA).
Allwyn will use the funds to finance its planned acquisition of a 70 per cent stake in Instant Win Gaming, announced in February as well as to repay outstanding debt, and for general corporate purposes. The syndicate was formed of new and existing private investors. UniCredit served as the Global Coordinator, with Clifford Chance and Allen & Overy as legal advisors.
Kenneth Morton, Allwyn CFO, said: “This transaction will support the continued execution of our organic and inorganic growth strategies as well as optimising our cost of capital. I am grateful to our existing lending partners for their continued support and pleased to welcome several new banks to the group.”
