Allwyn International posts double-digit total revenue growth for Q4 2023
Lottery giant’s revenue lands €2.2bn for the period as full-year results sees 97% year-on-year increase
The post Allwyn International posts double-digit total revenue growth for Q4 2023 first appeared on EGR Intel.
Allwyn International has posted total revenue of €2.2bn for Q4 2023, a 97% year-on-year (YoY) increase, as the additions of the Camelot businesses drove top-line growth up.
Gross gaming revenue (GGR) grew by the same percentage YoY, jumping from €1.1bn to €2.1bn, while net revenue rose 40% YoY to €987.8m from €708m.
Operating EBTIDA for Q4 2023 jumped 21% YoY to €336.8m while adjusted EBITDA jumped 30% YoY from €297.8m to €388.5m.
Geographically, Allwyn saw a slight decrease in Austria with total revenue dropping 1% YoY from €402.9m to €397.1m. GGR fell by the same, 1% YoY, from €387.6m to €382.1m.
There was positive growth not only in Czechia with 9% YoY growth to €144.6m, but also Greece and Cyprus, with total revenue standing at €612.8m – a 7% YoY rise.
Q4 2023 total revenue in the UK decreased 2% YoY to €975.3m, with adjusted EBITDA in the region falling 5% YoY to €42.2m.
Allwyn said the declines were to due a “weaker development in numerical lotteries” and “limited product and channel developments” towards the end of the previous licence.
Allywn officially took over the fourth National Lottery licence in February.
Excluding the Camelot acquisitions, Allwyn recorded total revenue of €1.2bn in the final three months of the year, a 4% YoY rise and a 15% increase in adjusted EBITDA to €343.4m.
For the full financial year, Allwyn posted a 98% YoY increase in total revenue with the figure standing at €7.9bn, which was attributed to the “contribution of the Camelot acquisitions”, and GGR also jumping 98% YoY to €7.5m.
Excluding Camelot acquisitions, the firm saw total revenue increase 6% YoY and GGR rise 7%, to €4.2bn and €4.1bn, respectively.
Allwyn CEO Robert Chvátal commented on the company’s full-year 2023 results, highlighting progress in the digital sphere as well new launches in several countries including Austria, Greece and Cyprus.
He said: “I am pleased to report that 2023 was another year of strong financial and operational performance and strategic progress. We continued to execute our growth strategies successfully, while maintaining our relentless focus on safer play and accountability to all our stakeholders.
“I believe that the consistent delivery by our teams, bringing new games, new features and upgrades to the player experience, as well as an expanded geographic footprint and enhancements to our in-house technology and content, support our aspiration to be the operator of choice and position us well for future growth.
“This robust performance was underpinned by further progress in digital, which continues to grow as a share of GGR. We sustained momentum in product development and innovation, with a highlight of the year being new launches in the exciting annuity category in Austria, the Czech Republic and Greece and Cyprus,” he added.
Key strategic developments for the year included February’s acquisition of Camelot UK and a month later the consolidation of Allwyn LS Group, formerly Camelot LS Group, which operates the Illinois Lottery.
Finally, the lottery giant said 2024 has seen the business continue to perform well, with trading “broadly in line with expectations at the start of the year”.
The post Allwyn International posts double-digit total revenue growth for Q4 2023 first appeared on EGR Intel.
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