Allwyn, the organization set to assume control of the UK National Lottery, announced strong results for the third quarter of 2022. Their gross gaming revenue (GGR) hit €958.6 million (roughly $994.3 million), marking an 11% rise compared to the corresponding period the previous year.
The firm’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also experienced a 10% jump, reaching €319.9 million. However, their adjusted EBITDA margin saw a minor decrease of 1% year-on-year, ending at 54%. This suggests that while earnings are expanding, the pace of expansion is marginally less than revenue growth.
A primary catalyst for this achievement was the solid performance of Allwyn’s digital sales in the Czech Republic. Online platforms now constitute a substantial 46% of their overall sales in the nation, up from 39% in the identical quarter a year ago.
Further bolstering their progress, Allwyn formally secured the fourth license for the UK National Lottery during the third quarter. This license, taking effect in February 2024, further strengthened the company’s optimistic outlook.
Robert Chvatal, Allwyn’s CEO, conveyed his contentment with the outcomes, underscoring the company’s robust financial performance and advancements in their strategic growth, particularly within the UK. He stressed that the expansion was entirely organic, illustrating the strength and appeal of Allwyn’s offerings and business framework.
Our company has been experiencing substantial financial gains, and our liquidity is robust – demonstrating that our economical operations and strategic allocations of capital are yielding positive outcomes. Expanding into the UK, our sixth lottery territory, represents a significant achievement for us. We recognized the opportunities present there from the outset of the third and fourth quarters, and it is already attaining substantial objectives.
