Allwyn International has unveiled its Q3 and year-to-date financial results, showcasing impressive figures with total revenue and gross gaming revenue (GGR) surging by 98% in Q3. The key driver behind this remarkable growth is the strategic acquisition of Camelot UK earlier in the year, significantly impacting Allwyn’s financial performance.
Q3 Highlights:
In Q3, total revenue reached €2.01 billion ($2.18 billion), marking a substantial 98% increase. Net revenue, on the other hand, stood at €883.3 million, with adjusted EBITDA reaching €368.4 million. These robust figures underscore Allwyn’s steady financial performance during this quarter.
Impact of Camelot Acquisition:
The Q3 results, excluding Camelot UK, reveal a different narrative, showing a 1% decrease in total revenue and no change in GGR. The influence of the Camelot acquisition becomes evident when considering net revenue, which witnessed a remarkable 38% increase, and adjusted EBITDA, which surged by 16%. However, excluding Camelot, net revenue was down by 1%, and adjusted EBITDA saw only a marginal 1% increase.
Camelot Acquisition Impact:
Camelot, the operator of the UK National Lottery since 1994, changed hands to Allwyn after the company secured the Fourth National Lottery Licence. The acquisition of Camelot and its group in March has played a pivotal role in driving significant financial growth for Allwyn in Q3 and throughout the year.
Year-to-Date Performance:
Over the past nine months, Allwyn’s total revenue amounted to €5.7 billion, reflecting a notable 98% increase, while net revenue reached €2.6 billion, marking a substantial 43% growth. Excluding Camelot, the year-to-date figures still paint a positive picture, with total revenue up 7% and net revenue up 8%.
CEO’s Perspective:
CEO Robert Chvatal expressed satisfaction with Allwyn’s Q3 performance, emphasizing the company’s strategic progress and financial stability. Despite sector headwinds during the quarter, Chvatal remains optimistic about Allwyn’s continued progress and anticipates a successful conclusion to 2023.
Allwyn International’s Q3 results highlight the transformative impact of the Camelot acquisition, propelling the company to robust financial performance. The figures underscore Allwyn’s resilience and strategic foresight, positioning it for continued success in the evolving gaming landscape. As the industry evolves, Allwyn’s strategic moves and financial strength position it as a key player in the global gaming arena.