Legacy markets drive Allwyn International gaming revenue up 7% in Q3

The European gaming giant reported strong growth in Austria, Greece and Cyprus.

Switzerland.- Allwyn International has reported preliminary unaudited results for Q3 showing revenue of €2.14bn, a rise of 7 per cent year-on-year. Legacy markets drove performance, with gross gaming revenue up 7 per cent in Austria and 17 per cent in Greece and Cyprus.

Revenue from Greece and Cyprus reached €591m, a rise of 17 per cent year-on-year. Strong online growth was boosted by Tzoker jackpot cycles, but igaming and sports betting performance was also strong. In Austria, revenue hit €407.3m on the back of a 17 per cent rise in numerical lotteries sales and a 12 per cent rise in igaming sales. EBITDA edged down 2 per cent to €74m owing to a rise in staffing costs. In the UK, revenue was €980.9m while adjusted EBITDA was down 84 per cent at €7m. 

Across the business, capital expenditure doubled to €71m due to investments related to the UK National Lottery, while Allwyn also sealed a $242m deal for a 70 per cent stake in Instant Win Gaming (IWG), a major supplier of online instant games for US lotteries. Excluding the UK and US, adjusted EBITDA was by 12 per cent year-on-year at €410m.

Revenue for the first nine months of 2024 was €6.4bn, up 12 per cent year-on-year. Adjusted EBITDA was €1.1bn.

CEO Robert Chvatal said: “We delivered another strong quarter, with notable growth in Greece and Cyprus and solid profitability across the board. Total revenue increased by 7 per cent, driven by our expanding digital channels, innovative product development, and commitment to delivering top-quality content to customers. As part of our growth strategy, we remain focused on supporting all stakeholders and maintaining a strong emphasis on safe play.”

He added: “We’ve achieved strong profitability, driven by Greece and Cyprus, as well as contributions from our equity method investments. Excluding the UK, Allwyn LS Group, and IWG, adjusted EBITDA rose by 21 per cent year-on-year. The acquisition of IWG has expanded our digital capabilities and strengthened our position in North America. Additionally, our increased interest in OPAP reflects our confidence in its continued success.

“As we move forward, I’m confident in our ability to deliver sustainable growth and look forward to the opportunities ahead. This straightforward report highlights the company’s progress and focus on adapting to challenges while driving growth in key areas.”

Allwyn International’s head office was moved from the Czech capital of Prague to Switzerland this year under the new legal name of Allwyn International AG. Last month, Allwyn named Elena Chambers as group chief transformation and corporate development officer. She will lead group-wide strategic planning, oversight and organisational change and transformation projects for Allwyn’s international portfolio, which includes Lotteries Austria, SAZKA in the Czech Republic, OPAP in Greece, Lotto Italia, and now the UK National Lottery.