Pan-European lottery operator Allwyn has provided a snapshot into its financial performance for 2024, detailing continuing group-wide revenue growth.
In an unaudited trading update ahead of its full financial results later this month, the company reported an increase in FY2024 revenue of 12% to €8.8bn (2023: €7.9bn) while Q4 revenue was up 10% to €2.4bn (€2.2bn).
Adjusted EBITDA, meanwhile, rose 4% from €1.48bn to €1.54bn at the end of 2024, while the figure for the three month period between October-December 2024 rose 12% from €388m to €437m.
“2024 was another year of record financial performance and strategic progress, as we continued to execute our growth strategies successfully,” said Robert Chvatal, Allwyn CEO.
Full speed ahead for Allwyn?
The company’s geographic remit extends across the European continent, encompassing the UK’s National Lottery, the Greece and Cyprus lotteries, Czech lotteries and Austrian lottery.
The company has not provided an update into the geographical breakdown of its pan-European performance, instead detailing dividends and distribution of share capital across the four abovementioned markets.
The results suggest that Allwyn is making significant progress with its growth strategy, which was stepped up a notch in February last year when its 10-year tenure as the operator of the UK National Lottery started.
Chvatal remarked that the company has ‘delivered good growth in profitability in 2024’, though noted some hurdles in the UK, which as stated above is shaping up to be one of its core markets.
“This performance was achieved despite the move to a new incentive and profitability mechanism in the United Kingdom, following the start of the new licence in February,” he said.
Allwyn’s portfolio has also been extended beyond the lottery sector over the past year, with the firm targeting opportunities in the mulit-billion sports betting and gaming verticals – two sectors it has already had a solid grounding in due to some of its lottery properties, like Greece’s OPAP, offering betting propositions.
One of the most notable developments this year saw the company acquire a stake Novibet, one of the market leading betting companies in Greece. The firm closed 2024 with the acquisition, which was carried out on 30 December for 327m for a 51% stake, building on an investment in a lottery games supplier, Instant Win Gaming, earlier in the year.
Just under three months into 2025, Allwyn remains committed to further growth and has been gearing up its marketing efforts to do so, having signed a Formula One sponsorship deal earlier in the year. The firm’s full year operating results will be disclosed on 21 March 2025, giving a greater glimpse into its performance and ambitions.
Chvatal remarked: “With respect to strategic bolt-on acquisitions, we were pleased to complete our planned investment in a 70% interest in Instant Win Gaming in September and our expansion efforts were further bolstered by our agreement in December to acquire a 51% stake in Logflex MT Holding Limited, the owner of the growing online sports betting and gaming group Novibet.
“Both transactions are in line with our strategy of making selective acquisitions in relevant products, technologies and content to support our future growth. During the year we also saw a small increase in our interest in OPAP, as a result of its share buyback programme.
“The new year has started well, and Allwyn is well positioned for 2025 and for the next chapters of its growth story.”