Allwyn Reports Strong Q3 2022 Results Fueled by Digital Growth and UK Lottery Win
Allwyn experienced a robust third quarter in 2022, as its overall gaming proceeds (GGR) surged by 11% annually, reaching €958.6 million (equivalent to roughly $994.3 million).
The organization, which is set to assume control of the UK National Lottery, also disclosed that its modified EBITDA for the quarter ascended by 10% year-on-year, hitting €319.9 million. This translated into a modified EBITDA margin of 54% for the quarter, a marginal decline in comparison to the corresponding period the previous year.
Net gaming proceeds also witnessed a 10% rise, exceeding the €532.2 million recorded in the third quarter of 2021.
Allwyn ascribed its positive yearly financial outcomes to the expansion of digital sales in the Czech Republic. Online avenues now constitute 46% of Allwyn’s total sales within the nation, up from 39% in the parallel timeframe last year.
The third quarter of 2022 also saw Allwyn’s share value positively impacted by the formal granting of the UK National Lottery’s fourth permit, slated to commence in February 2024.
“Allwyn achieved yet another phase of very positive financial results,” stated Robert Chvatal, Allwyn’s Chief Executive Officer. “We have also maintained substantial progress with our external growth approach, most notably with the encouraging announcement that we have been selected for the fourth UK National Lottery license.”
“During the third quarter, our combined gross gaming revenue expanded by 11%, and combined adjusted EBITDA rose by 10% year-on-year, entirely fueled by internal growth, once again highlighting the strength and allure of our business framework and offerings.”
Chvatal further remarked on Allwyn’s wider business activities: ”
We maintained a sharp concentration on maximizing profitability and ensuring robust cash flow. This stems from our establishment of a highly streamlined operation and our prudent approach to financial expenditures.
Regarding growth, we achieved two significant landmarks in the UK market as the third and fourth quarters commenced. Consequently, the UK will become the sixth nation where we oversee lottery ventures – a substantial triumph for our company!