Allwyn closed 2024 with €8.8bn revenue on top of Novibet stake acquisition

Allwyn, the majority stakeholder in Greek betting firm Novibet and operator of the UK National Lottery, is making progress with its strategic growth ambitions.

This is according to the firm’s latest trading update, it seems, which has provided an unaudited glimpse into its financial results ahead of full reporting on 21 March 2025.

Q4 revenue rose 10% to €2.4bn (2023: €2.2bn) while FY2024 revenue was up 12% from €7.9bn to €8.8bn. Adjusted EBITDA was up 12% €437m (€388m) in Q4 and rose 4% from €1.48bn to €1.54bn.

Allwyn has built up its position as a major pan-European lottery operator. The firm’s oldest holding is the Czech lottery, SAZKA, while its profile has been further expanded with Greece and Cyprus’ OPAP, the Austrian Lotteries, and perhaps most significantly the UK National Lottery.

The company assumed control of the National Lottery in February last year as the holder of the 10-year licence, having beaten long-time sole operator Camelot UK in a licence tender back in 2021 and subsequently acquiring the firm.

Its reach has been extended to sports betting lately, however, something it has some familiarity with due to the likes of OPAP providing wagering options. Significantly expanding its betting reach in 2024, the company closed the year by agreeing to acquire a 51% stake in Novibet on 30 December.

With 2025 trading well underway, the company is now targeting an enhanced presence in sports such as by partnering with Formula One team McLaren– this may be to promote some of its betting ambitions, though lottery remains its biggest division.

“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.

He continued: “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.”