Allwyn has reported preliminary Q3 net revenue of €1bn (£879m), up 5% from the €971m recorded in Q3 last year.
The lottery and gaming giant, which this year announced deals to acquire a majority stake in PrizePicks and merge with OPAP, described the performance as “good top-line growth momentum”.
Operating EBITDA slipped 16% from €359m to €301m, while adjusted EBITDA was down 8% year on year (YoY) from €406m to €374m. Adjusted EBITDA margin declined to 36.6%.
Net revenue was driven by Allwyn’s continental Europe division, which includes its operations in Austria, Czechia, Greece, Cyprus and Italy.
Net revenue for the division was up 6% YoY to €729m, with lottery growth in Austria and Czechia cited as key drivers.
In the UK, where Allwyn runs The National Lottery, net revenue was up 6% to €250m and adjusted EBITDA rose from €6m to €9m.
In North America, where the business operates the Illinois Lottery and will add PrizePicks to its wheelhouse, net revenue was flat at €55m.
Allwyn also disclosed the performance of Betano, which is owned by Kaizen Gaming. Allwyn holds a 36.75% stake in the business.
Betano Q3 revenue was up 8% YoY to €655m, with Allwyn receiving €55m worth of dividends during the quarter.
Allwyn management said Betano was hampered by customer-friendly sports betting results, although it is reporting all-time high active player numbers.
On a vertical basis, lottery was the main net revenue driver (€551m), with sports betting (€129m) and igaming (€120m) behind. Casinos and VLTs revenue hit €139m.
Allwyn also announced it will host a Capital Markets Update on Friday, 28 November.
Robert Chvátal, Allwyn CEO, said: “I am pleased to report another quarter of solid financial performance and transformative strategic initiatives, as we continue to execute our growth strategy.
“We are also delighted and excited to have announced two landmark transaction that significantly advance our growth strategy and strengthen our position as a global leader in lottery and gaming.
“Our progress so far this year reinforces the strength of our proven strategy and, looking forward, we are well prepared to deliver the next phase of our growth story and further strategic progress.”
The post Allwyn Q3 revenue breaks €1bn mark first appeared on EGR Intel.
Management champion “next phase of our growth story” ahead of acquisitions of PrizePicks and OPAP completing
The post Allwyn Q3 revenue breaks €1bn mark first appeared on EGR Intel.