Operator Allwyn, which is entering the UK National Lottery, reported €988.6 million ($994.3 million) of gross gaming revenue (GGR) for Q3 2022, an 11% increase from to the same period of the previous year.

The company also reported adjusted EBITDA of €319.9 million, up 10% from 2021. Allwyn’s adjusted EBITDA margin stands at 54% from its Q3 report, down 1% from the prior year. Net gaming revenue also increased by 10%, up from the 532.2 million euros generated last year.

Allwyn attributes its annual improvement to online sales growth in the Czech Republic. The operator’s online channels contributed 46% of total sales in the country, compared to 39% in the prior year period.

Q3 2022 also saw Allwyn’s share price rise following the formal grant of the fourth UK National Lottery license, effective February 2024.

Allwyn CEO Robert Chvatal said: “This quarter saw Allwyn deliver another set of strong financial results. We also continue to showcase our inorganic growth strategies, with some exciting developments in the UK.”

“Our consolidated gaming gross revenue increased 11% year-over-year in the third quarter and consolidated adjusted EBITDA increased 10%, driven entirely by organic factors – once again demonstrating the resilience of demand for our products and our business model” , added the CEO.

Chvatal also commented on the state of Allwyn’s broader business operations: “We also continue to deliver strong margins and generate robust free cash flows, reflecting our favorable cost structure and focus on cost and capital efficiency. The beginning of the fourth quarter also saw two milestones in the UK, which is poised to become the sixth market in which we operate lotteries.”