Allwyn Reports 7% Revenue Growth in Q3 2024
Allwyn International AG has released its preliminary unaudited Q3 2024 results, with 7% yoy revenue growth driven by Austria, Greece and Cyprus and significant progress in digital. Adjusted EBITDA up 12% yoy.
Revenue Growth in Core Markets
In Q3 2024 Allwyn reported €2,143 million revenue, 7% yoy. Growth was driven by organic in Greece and Cyprus and digital. CEO Robert Chvatal said: “We delivered solid profitability, including excellent growth in Greece and Cyprus, and once more benefited from a strong performance from our equity method investees where, in addition to strong organic growth, profitability benefited from a favourable tax effect in the quarter. ”
Adjusted EBITDA was €410.8 million, 12% yoy. Excluding UK and North America (including Camelot LS Group and Instant Win Gaming), Adjusted EBITDA was up 21% yoy.
Strategic Acquisitions
Allwyn continued to execute its inorganic growth strategy with several milestones. In September 2024 Allwyn acquired 70% of Instant Win Gaming (IWG), a leading online instant games supplier. This acquisition expanded Allwyn’s presence and capabilities in content, particularly in North America. Allwyn also increased its stake in OPAP through the share buyback program.
In 2024 Allwyn acquired Camelot UK and Camelot LS Group, operators of the UK National Lottery and the Illinois Lottery respectively. These acquisitions have a significant impact on Allwyn’s consolidated numbers and market presence. The UK National Lottery is now operated under Allwyn’s new license since February 2024.
Robert Chvatal said: “I am pleased with our continued progress and believe we are well-placed for the remainder of 2024 and the next chapters of our growth story.”
