Allwyns Impressive Q1 Results Signal Promising Future as UK National Lottery Operator Nears

A leading lottery operator, Allwyn, has announced outstanding Q1 results, boasting a remarkable 80% surge in overall income compared to the corresponding period last year. This exceptional performance, propelling total revenue to €1.6 billion, is primarily driven by Allwyn’s strategic takeover of Camelot UK, the former steward of the UK National Lottery.

Disregarding the influence of the Camelot acquisition, Allwyn’s core revenue still witnessed a robust 17% rise, reaching €1.06 billion. This upward trajectory emphasizes the company’s solid market presence and effective expansion tactics.

Allwyn’s modified EBITDA also demonstrated substantial growth, hitting €3.467 billion, a 28% jump from the prior year. This financial metric further underscores the company’s operational effectiveness and profitability.

Allwyn CEO, Robert Chvatal, conveyed his contentment with the company’s achievements, stressing their dedication to both internal and external growth. He also emphasized Allwyn’s commitment to ethical gaming practices and generating value for all involved parties.

These exceptional first-quarter outcomes arrive at a crucial juncture for Allwyn as they gear up to assume control of the UK National Lottery. Backed by a robust financial footing and a dedication to progress, Allwyn is strategically placed to usher the lottery sector into a new chapter.

Camelot UK, the former operator of the UK National Lottery since its 1994 launch, will be succeeded by Allwyn in February 2024. The latter company experienced a substantial revenue increase of 80% in the first quarter of 2023, contrasted with the corresponding period the previous year. This remarkable expansion stemmed from a blend of robust results in their current sectors and the incorporation of earnings from the recent acquisition of Camelot UK.

Interestingly, Allwyn secured the rights to manage the UK National Lottery from Camelot. In an unexpected turn of events, Allwyn also procured Camelot UK itself, consolidating all operations. This action was unforeseen, particularly given Camelot’s prior endeavors to legally contest the lottery license transfer. They had even attempted legal action against the Gambling Commission and Allwyn to retain the license, echoing a similar strategy employed during the bidding process for the third National Lottery license when Virgin unsuccessfully challenged Camelot’s control.