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  • Q2 2023: Allwyn GGR more than doubles following Camelot acquisition
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Lottery giant Allwyn recorded GGR of €1.96bn in Q2 2023, up 115.3% year-on-year, following its acquisition of Camelot UK and Camelot LS.

The company, formerly known as Sazka, completed its Camelot acquisitions – consisting of the UK’s National Lottery operator and the operator of the Illinois State Lottery – in February 2023, making Q2 the first full quarter to include their results.

Excluding the impact of the acquired businesses, Allwyn’s like-for-like GGR grew by 7.6% year-on-year to €979.8m.

Of the total €1.96bn in GGR, Camelot’s operations in the UK were responsible for around half at €980.3m, up 1.2% year-on-year.

As for Allwyn’s operating regions excluding the Camelot acquisitions, Greece and Cyprus generated €498.1m in GGR, up 12.6% year-on-year.

Austria generated a further €360.3m, up 1%, while the Czech Republic brought in €121.4m amid a year-on-year increase of 9%.

Outside the metric of GGR, Allwyn LS Group (formerly known as Camelot LS) which operates the Illinois State Lottery, generated a further €47.1m in total revenue, amid a 3.9% year-on-year reduction.

That revenue is generated from private management services and therefore is not included as GGR in Allwyn’s reporting.

Similarly, the company’s operations in Italy generated additional net revenue of €116.5m, up 3.4%. In that market, Allwyn holds a 32.5% stake in local lottery operator LottoItalia.

Overall, Allwyn declared adjusted EBITDA for the quarter of €381m, up 34.6% year-on-year.

“I am happy to report that the good performance in our existing geographies was driven primarily by strong growth in digital, where we have sustained our momentum in product development and innovation,” said Allwyn CEO Robert Chvatal.

“Alongside this, we continue to evolve and digitise the customer proposition in physical retail, while during the quarter we once again saw resilience of demand for our products, even in an environment where consumer spending remains under pressure.

“We continued to deliver strong margins and solid free cashflow generation, with only a limited impact of inflation on our cost base, reflecting our favourable cost structure, with our largest cost categories being directly linked to revenue, and our focus on cost and capital efficiency,” Chvatal concluded.

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