UK National Lottery operator Allwyn has confirmed revenue of €8.8bn for 2024, in line with expectations outlined in an unaudited financial report released earlier this month.
The multinational lottery firm, which is becoming increasingly involved in betting and gaming, outlined year-over-year revenue growth of 12% from $7.9bn. Adjusted EBITDA was also up 4% YoY to €1.54bn (2023: €1.5bn), again in line with expectations.
Last year was a transformative one for the company, which took on duties as UK National Lottery operator in January 2024 and later secured terms to acquire a 51% stake in Novibet, one of the biggest players in the Greece and Cyprus betting markets, in the second half of the year.
It also acquired a 70% stake in Instant Win Gaming (IWG), a supplier of online instant win games to lottery companies, in September 2024. The company notes that these developments have had a ‘significant impact on the consolidated metrics of the group’
As such, it has also reported some consolidated financial results which exclude its UK, North America, technology and content operations. These results saw revenue rise 8% from €4.2bn to £4.6bn, while adjusted EBITDA was up 27% from €1.2bn to €1.5bn. Similarly to its group-wide results, GGR rose 8% to €4.4bn (€4bn).
“I am pleased to report that 2024 was another year of solid financial performance and strategic progress, as we continued to execute our growth strategies successfully,” said Robert Chvatal, Allwyn CEO.
On a quarterly basis, Allwyn’s audited 2024 financials also mirrored the unaudited copy released earlier in the month. Q4 2024 revenue was up 10% to €2.4bn (€2.2bn), GGR was up 10% to €2.3bn (€2.1bn), and adjusted EBITDA was up 12% to €437m (€388m).
“Strong momentum continued in the fourth quarter, in which we achieved double-digit growth year-on-year,” Chvatal continued.
Allwyn closes a year of acquisitions
Allwyn’s CEO attributed the company’s financial performance in both the fourth quarter and for the full 2024 financial year to ‘continued growth in the digital channel’, alongside the ‘strength of our product portfolio’.
Unsurprisingly, the company has highlighted its takeover of the UK National Lottery licence in February 2024 as being one of the main highlights of 2024. The company secured the 10-year licence after a bidding process with the UK Gambling Commission (UKGC) in 2022.
This was met with a legal challenge from Camelot UK, which had been the sole operator of the lottery since its first draw in 1994. Eventually, this was settled and Allwyn ultimately bought out Camelot UK and the Camelot Lottery Systems technology group.
As noted above, 2024 remained a year of acquisitions for the company as it expanded its reach in lottery and betting via Novibet and IWG. It has also been targeting enhanced visibility in sports via sponsorship in Formula One.
Summarising the Novibet and IWG purchases, Chvatal said: “Both transactions are in line with our strategy of making selective acquisitions in relevant products, technologies and content to support future growth. During the year we also saw a small increase in our interest in OPAP, as a result of its share buyback programme.”
