Allwyn saw Q1 revenue increase 21% year on year to €1.2bn (£1.04bn) for the first quarter of 2026, with strategic M&A playing a crucial role in the lottery and gaming giant’s “strong momentum”.
The jump came in the operator’s first reporting period since completing the acquisition of PrizePicks earlier this year.
Allwyn obtained a 62.3% stake in the daily fantasy sports (DFS) operator in a deal worth $1.6bn in January, which followed on from the company’s €16bn merger with OPAP last October.
That merger, which saw Allwyn acquire the remaining shares in OPAP it didn’t already own, resulted in the combined entity being listed on the Athens Stock Exchange.
During Q1, the majority of the revenue came from the firm’s lottery arm, to the tune of €487m, although this was a 5% decline versus Q1 2025.
DFS operations contributed revenue of €178m thanks to the PrizePicks acquisition.
Revenue from sports betting increased 13% YoY to €159m, while proceeds from igaming saw a 29% bump YoY to €147m.
An additional €146m in revenue came from Allwyn’s land-based video lottery terminals and casinos.
In addition to the first-time contribution from PrizePicks, Allwyn cited continued momentum in Continental Europe and at Betano as contributing factors to the company’s quarterly performance.
Allwyn holds a 36.75% in the Kaizen Gaming brand. Betano itself delivered €788m in revenue in Q1, up 27% against 2025.
An Allwyn statement read: “This performance highlights the resilience and diversification of the group’s platform, despite a high comparative base driven by record jackpots in multiple countries and certain market-specific factors, including higher gaming taxes in Austria, and FX headwinds.”
Continental Europe was the firm’s largest region, generating revenue of €754m, primarily driven by igaming and sports betting operations.
Revenue from North America amounted to €239m, up from €60m during the corresponding period last year, with the PrizePicks addition swelling the figure.
The UK, where Allwyn operates the National Lottery, contributed revenue of €224m for the quarter, up 3% YoY.
Post-tax profit for the quarter came to €213m, an increase of 18% compared to Q1 2025.
Adjusted EBITDA for Q1 amounted to €443m, up 24% YoY.
CEO Robert Chvátal hailed the operator’s performance during what he described as a “transformative quarter”.
He said: “I’m immensely proud of this transformative quarter, during which we have brought together two fantastic businesses to create a scaled global leader in gaming entertainment – with an enhanced ability to shape the industry, a wider range of growth opportunities and a highly differentiated platform to support long-term value creation and shareholder returns.
“We are immensely proud of what we have achieved since the creation of Allwyn – creating a global leader in gaming entertainment with almost €2bn of adjusted EBITDA in only 14 years – and are delighted to have achieved several key milestones in the first quarter.
“Looking forward, we are as excited as we have ever been about the next chapters in our growth story and confident in our ability to capture the many opportunities ahead.”
Allwyn was on the verge of completing more M&A during the quarter, but its proposed €327m acquisition of Novibet was scrapped after intervention from the Hellenic Competition Commission (HCC).
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M&A drives growth for the operator across North America in first reporting period since the completion of PrizePicks deal
The post Allwyn delivers 21% jump in Q1 revenue to €1.2bn during “transformative quarter” first appeared on EGR Intel.