- Legal States
Velimir Velichkov November 29, 2022 3 min read
Allwyn Posts Strong Q3 According to Preliminary Results
The leading global lottery operator, Allwyn International, released its latest trading update Tuesday. The company unveiled its preliminary results for the three and nine months ended September 30, 2022.
Allwyn Releases Q3 Preliminary Results
Judging by the recent data, Allwyn enjoyed a strong quarter with gross gaming revenue (GGR) hitting €958.6 million ($995.2 million). When compared to the €867.4 million ($900.5 million) result in GGR from Q3, 2021, strong growth of 11% is observed. Not unexpectedly, for the third quarter this year, the company’s net gaming revenue (NGR), increased as well. In total, Allwyn reported €587.5 million ($609.9 million) in NGR, marking an increase of 10% when compared to the €532.2 million ($552.5 million) result from Q3 last year.
For the three months ended September 30, 2022, Allwyn reported an increase in operating EBITDA. The company’s recent report reveals that operating EBITDA in Q3 this year hit €314.5 million ($326.5 million), up by 12% when compared to the Q3 2021 result when operating EBITDA halted at €281.5 million ($292.2 million). Additionally, in Q3 2022, Allwyn reported adjusted EBITDA growth of 10% to €319.9 million ($332.1 million).
The Company Enjoys Strong Organic Growth
Robert Chvatal, Allwyn’s CEO, shared his excitement saying that the company has seen strong financial results during the quarter. Moreover, he explained that the company continues to benefit from organic growth strategies. Chvatal added that in Q3, Allwyn has seen a strong increase in GGR, and adjusted EBITDA. According to him, this was “driven entirely by organic factors.” The company’s CEO added: “We also continue to deliver strong margins and generate robust free cashflows, reflecting our favorable cost structure and focus on cost and capital efficiency.”
“This quarter has seen Allwyn deliver yet another set of strong financial results. We have also continued to deliver on our inorganic growth strategies, with some exciting developments in the UK in particular.“Robert Chvatal, CEO at Allwyn
In addition to its preliminary financial results, Allwyn acknowledged multiple achievements it completed in Q3 this year. Most importantly, the company was officially awarded the fourth license for the UK National Lottery, effective from February next year. What’s more, Allwyn reported strong growth in online sales. Following the third quarter, in Q4, the company also reached an agreement to acquire the current operator of the National Lottery, Camelot.
Results for the First Nine Months of 2022 Show an Uptick
Focusing on the bigger picture, Allyn reported strong results for the first nine months as well. For the first nine months of this year, the company’s GGR hit €2.72 billion ($2.82 billion). When compared to the corresponding period in 2021 when GGR halted at €2.13 billion ($2.21 billion), this year, an increase of 28% was observed.
NGR for the first nine months this year increased by 33%, hitting €1.67 billion ($1.73 billion), while operating EBITDA hit €861.4 million ($894.2 million), up 32% when compared to the same period last year. Another strong growth was reported in adjusted EBITDA. Allwyn revealed that adjusted EBITDA for the first nine months of this year hit €875.7 million ($909.1 million), up by 30%.