Lottery behemoth, Allwyn, experienced a substantial 98% surge in both revenue and gross gaming revenue (GGR) during the third quarter. This impressive growth can be largely attributed to the exceptional results of UK lottery operator, Camelot, which Allwyn acquired earlier this year. It’s worth noting, however, that excluding Camelot’s figures, Allwyn’s revenue saw a minor decrease of 1%.
Nevertheless, the purchase of Camelot, the entity responsible for managing the UK National Lottery since 1994, proved to be a pivotal moment. Allwyn successfully outmaneuvered Camelot to secure the fourth National Lottery license. This acquisition, finalized in March, provided a significant boost to Allwyn’s financial standing.
In total, Allwyn generated €2.01 billion in revenue and a net income of €883.3 million during the third quarter. Adjusted EBITDA for the same period reached €368.4 million.
Although Camelot’s inclusion presented a very positive view of revenue and GGR, its effect on net income and adjusted EBITDA was less pronounced. Without Camelot’s contribution, net income would have actually experienced a 1% decline, and adjusted EBITDA would have seen only a marginal 1% increase.
CEO Robert Chvatal conveyed his contentment with the outcomes, emphasizing Allwyn’s continued strong financial performance and advancement in strategic objectives.
Our third-quarter 2023 earnings skyrocketed by 98% year-over-year. This remarkable surge showcases the robust results of our current businesses and the substantial contribution from our acquisition of Camelot earlier this year.”
“Examining the year so far, our cumulative revenue reached €5.7 billion, with net profits hitting €2.6 billion. This represents a 98% rise in revenue and a 43% leap in net income compared to the corresponding period last year. Disregarding the influence of the Camelot integration, our revenue for the first nine months still expanded by a commendable 7%, and our net income experienced an 8% uptick.”
“Despite encountering some industry challenges this quarter, I am incredibly satisfied with Allwyn’s ongoing advancement,” Chvatal concluded. “We are optimistic about our capacity to close out 2023 on a high note.”
