Allwyn revenue nears €9bn after first year of UK National Lottery ownership
Lottery giant enjoys a 12% year-on-year increase for topline figure, as CEO Robert Chvátal hails “another year of record financial performance”
Allwyn has reported revenue of €8.8bn (£7.4bn) for full-year 2024, representing a 12% year-on-year (YoY) rise, as the business benefitted from its first full year of running the UK National Lottery.
The figure was published in the lottery giant’s preliminary set of results for the year, excluding its Greece and Cyprus (OPAP) segments.
Gross gaming revenue (GGR) made up €8.4bn of the revenue total, and the vertical also experienced a 12% year-on-year (YoY) increase.
Digital growth played a crucial role in Allwyn’s 2024 performance, with online GGR totalling €3.4bn. This equated to a 20% rise YoY and made up 39% of Allwyn’s total GGR.
Adjusted EBITDA for the year came to €1.5bn, up 4% when compared to 2023. This left an EBITDA margin of 38.6%, down from 41.2% in 2023.
Last year began with Allwyn assuming control of the UK National Lottery, with the switch complete by February 2024.
The operator took over the license from previous holder Camelot.
While revenue has been significantly bolstered by the addition of the UK, profitability from the market was €146.4m lower compared to 2023.
In fact, when excluding the UK and US operations, Allwyn’s full-year 2024 revenue drops to €4.6bn, albeit up 8% YoY. However, adjusted EBITDA was up 11% when discounting the UK.
Staying with the UK, as tech transition plans continue to be worked on, Allwyn said its Capex had reached €255.8m in 2024, up from €102.1m in 2023.
When looking at Q4 2024, Allwyn’s total revenue came to €2.4bn, representing a 10% increase YoY.
GGR for the quarter rose 10% YoY to €2.3bn, while Q4’s adjusted EBITDA increased 12% YoY to €437m.
Commenting on the company’s performance, Allwyn CEO Robert Chvátalsaid: “2024 was another year of record financial performance and strategic progress, as we continued to execute our growth strategies successfully.
“Total revenue increased 12% year-on-year, reflecting continued growth in the digital channel, the strength of our product portfolio and our focus on bringing best-in-class content to customers, while we also remained focused on our responsibilities to all stakeholders – in particular, our commitment to safe and responsible play.
“Strong momentum continued in the fourth quarter, in which we achieved double-digit growth year-on-year. The new year has started well, and Allwyn is well positioned for 2025 and for the next chapters of its growth story.”
In addition to the preliminary financial results, the company also announced its intention to issue a new €450m term loan B agreement.
This will sit alongside a $100m add-on to its existing USD term loan B, which will be due by 2031.
The company has said the proceeds from the offering will be used to “repay existing indebtedness, for general corporate purposes and to pay transaction fees and expenses”.