Allwyn reported a 114.7% YoY increase in revenue to €2.05bn in the second quarter, driven by its acquisitions of Camelot UK Lotteries and Camelot Lottery Solutions (Camelot LS).
The group acquired Camelot UK in February this year following an agreement in October 2022. The deal covers all of Camelot’s UK operations, including current rights to operate the National Lottery until February 2024.
Allwyn will assume control effective this date, having received the fourth license from the National Lottery. This comes after Allwyn finalized an agreement to acquire US-facing Camelot LS – since renamed Allwyn LS Group – in January.
The addition of the businesses significantly impacted Allwyn’s performance in the second quarter, its first full quarter since the completion of the acquisitions.
Revenue was significantly higher year-over-year, while adjusted EBITDA also increased.
Statement by the CEO of the company
Allwyn Chief Executive Robert Chvátal: “I am pleased to report that Allwyn delivered another quarter of strong growth, profitability and strategic progress.”
“We delivered organic revenue growth in all markets and also saw a further increase in profit generation and free cash flow due to this being the first full quarter of ownership from our recent acquisitions.”
Chvátal also spoke of continued digital growth across Allwyn’s businesses. “I am pleased to report that the strong performance in our existing geographies was primarily driven by strong growth in digital, where we maintained our momentum in product development and innovation,” he said.
“At the same time, we continue to evolve and digitize the proposition to the customer in physical retail. During the quarter, we once again saw the resilience of demand for our products, even in an environment where consumer spending remains under pressure.”
Camelot’s Impact to Allwyn
Group revenues exceeded €2 billion for the first time during the three months to June 30. Of this total, 1.96 billion euros were gross gaming revenues, an increase of 115.3% compared to last year.
Excluding the impact of the two Camelot acquisitions, total revenue would have increased to €1 billion. This was still 7.1% above the previous year’s €953.1 million and €979.8 million of this figure was gross gaming revenue.
