Allwyn records massive 80% bump in revenue in Q1 2023

Allwyn records massive 80% bump in revenue in Q1 2023

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Allwyn records massive 80% bump in revenue in Q1 2023

As highlighted in its latest financial performance report, Allwyn experienced an 80% increase in total revenue in the year’s first quarter.

The operator made around 1.65 billion euros in the first three months of the year, up from 914 million euros generated in the same period last year. From the total, Allwyn’s gross gaming revenue amounted to 1.59 billion euros, which was up 81% year-over-year from 875 million euros generated by the firm in 2022’s first three months.

Allwyn’s net revenue experienced a smaller increase of 40% in the period, going from just under 580 million euros to 811 million euros. This led to an operating EBITDA of 329 million euros and an adjusted EBITDA of 346 million euros, each of which is up from last year’s figures by 23% and 28% respectively.

In addition to the performance figures, the company also highlighted some of its noteworthy achievements in the quarter, with one of the most significant ones being the acquisition of Camelot. Allwyn’s purchase was originally announced back in October of last year and was greenlit by the Gambling Commission at the end of January. Starting next year, the company will also take over the operations of the UK’s National Lottery, which was previously run by Camelot.

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