In Q1 business update, Allwyn Entertainment anticipates revenue growth

May 21, 2024 7:15 PM
Photo: Shutterstock
  • Mia Doyle, Special to CDC Gaming Reports
May 21, 2024 7:15 PM
  • Mia Doyle, Special to CDC Gaming Reports

Global lottery operator Allwyn Entertainment reported that, once audited, first-quarter revenue is expected to reach between €2.00 billion and €2.05 billion ($2.17 and $2.23 billion), a 25.8 percent to 28.9 percent increase on last year’s €1.59 billion. Adjusted EBITDA is expected to reach between €355 million and €365 million, up from last year’s first-quarter EBITDA of €346.7 million.

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Founded in 2012, Allwyn operates numerous lotteries worldwide. In February, Allwyn took over as The National Lottery operator in the United Kingdom. The company also owns Camelot Lottery Solutions in the United States and holds prominent market positions in Greece, Cyprus, Italy and other regions.

“2024 has started well, with trading broadly in line with our expectations at the start of the year, reflecting good operational and financial performance and our ongoing focus on the delivery of our growth strategies,” said Robert Chvatal, Allwyn CEO. “Solid momentum in GGR growth continued in the first quarter, during which Allwyn successfully started the next 10-year licence period of the UK National Lottery, while we have delivered further progress in Adjusted EBITDA. Allwyn remains well positioned for 2024 and for the next chapters of its growth story.”

Allwyn also announced the launch of a $450 million Term Loan B offering by Allwyn Entertainment Financing (US) LLC. The proceeds will be used to pay off the Floating Rate Notes due 2028, cover offering expenses, and for general corporate purposes.