Allwyn AG said its acquisition of US fantasy sports operator PrizePicks helped drive strong digital growth in Q1, offsetting a slowdown in its core lottery business and pushing online channels closer to half of total net gaming revenue.
For the three months to 31 March, the group reported net gaming revenue of €1.12bn [$1.30bn], up 24% year-on-year, while consolidated revenue, which included non-gaming activity, climbed 21% to €1.2bn [$1.4bn]. This, Allwyn said in its preliminary results, was driven by growth in its digital channels and the addition of PrizePicks.
Allwyn finalized its acquisition of PrizePicks in early Q1, marking a major expansion for the lottery-focused gaming entertainment group. The impact of the deal was clear to see in Q1, as underlying growth excluding PrizePicks was lower at just 5%.
