Allwyn's Q3 2023 Financial Report Shows Soaring Revenue

Allwyn, a prominent player in the lottery industry, has unveiled its unaudited Q3 2023 results, showcasing a staggering 98% year-on-year increase in consolidated total revenue, totaling EUR 2 billion. This exceptional growth is largely credited to the recent acquisition of Camelot, which significantly bolstered the company's financial standing.

The consolidated adjusted EBITDA for the quarter reached EUR 368 million, marking a substantial 16% YoY increase, with an EBITDA margin of 41.7%. However, when excluding the impact of recent acquisitions, Allwyn still demonstrated a commendable 1% YoY growth, reporting adjusted EBITDA of EUR 319 million.

Allwyn's CEO, Robert Chvatal, expressed satisfaction with the results, emphasizing the strategic progress achieved. He highlighted the steady performance in the markets where Allwyn operates and underscored the crucial role played by the Camelot acquisition in driving increased revenue. Chvatal also praised the company's commitment to shareholder value, its robust cost structure, and the positive impact of ongoing digital sector advancements.

Despite the positive financial outlook, Allwyn faced challenges in Q3, attributed to customer-friendly sports results and unfavorable jackpot cycles. The company concluded the quarter with consolidated net debt/pro forma LTM adjusted EBITDA of 1.7x.