Allwyn announces substantial GGR growth in H1 2022 report

Allwyn published H1 2022 report
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Allwyn has published its financial results for the first half of 2022, reporting a 40.8% rise in its revenue from gaming activities (GGR).

During the first six months of 2021, the multi-national lottery operator’s GGR was €1.26bn, but that has been trumped by the €1.77bn recorded between January 1 – June 30, 2022.

Growth in headline GGR signalled the group’s sustained recovery across its core markets of Austria, Czech Rep and Greece and Cyprus.

Its revenue from non-gaming activities, meanwhile, increased by 52.3% to €96.1m (H1 2021: €63.1m).

H1 trading saw Allwyn register gaming taxes totalling €685m as net gaming revenues (GGR tax) amounted to €1.08bn, up 50% on 2021’s results of €723m.

The firm’s consolidated statement cited H1 increased costs in agent commission of €246m (+60%), corporate materials of €249m (+22%), and group marketing costs of €105m (+7%).

Improved bottom-line results saw Allwyn declare an H1 operating EBITDA of €546m, up 47% on H1 2021 results of €371m, helping the group declare a post-tax profit outcome of €248m (H1 2021: €173m).

The first six months of 2022 proved to be particularly significant for Allwyn as it was named as the preferred applicant of the fourth UK National lottery licence by the UK Gambling Commission.

This was a decision that was initially challenged by Camelot, before the current incumbents withdrew its appeal earlier this month.

Meanwhile, in other significant company news, Allwyn’s proposed merger with Cohn Robbins Holdings has made progress in recent months.

Allwyn’s registration statement was declared effective by the US Securities and Exchange Commission (SEC) last month, and the merger has since received approval by Cohn Robbins Holdings shareholders.

In a separate extraordinary general meeting held this month, Cohn Robbins Holdings shareholders also approved a proposal to extend the date by which CRHC must consummate its initial business combination from September 11 to December 11, 2022.