Allwyn International reports 65% GGR growth for Q1

Allwyn International has published its first quarter financial results, noting a 65% year-on-year increase in consolidated gross gaming revenue (GGR).

allwyn q1 gi web image
Listen To Article

The group, formerly known as Sazka, has reported €869m ($912m) in GGR for Q1, up from €526m and reflecting what it called a “more normalised operational environment.”

The reopening of Allwyn’s retail business has undoubtedly contributed to stronger top-line growth. During Q1, Covid-related restrictions did impact sales in some markets, including Greece, Cyprus, Austria and Italy.

However, Allwyn said their impact was to “a lesser extent than restrictions in previous periods.” This is reflected in the group’s overall Q1 performance. While GGR grew by 65%, adjusted EBIDTA increased by 86% to nearly €269m.

Furthermore, Allwyn delivered this growth during a busy three-month period. In January, Allwyn International’s parent company announced a proposed merger with Cohn Robbins Holdings Corp to list its shares on the New York Stock Exchange.

And in March, the group was selected as the preferred applicant for the UK’s fourth National Lottery licence, though the incumbent licence holder, Camelot, is currently pursuing a legal challenge.

“I am pleased to report that Allwyn International has started the year strong and delivered several important strategic initiatives and another set of solid results,” said Robert Chvatal, Allwyn International CEO.

“The first quarter of 2022 was an exciting time for us from a strategic point of view. We have executed several initiatives that set us up well for future growth.”

Chvatal did go on to note that “persisting inflationary pressures” had “weakened” general consumer demand, but said Allwyn has thus far remained largely unaffected.

He remarked: “Our business has seen only a limited impact so far due to the low price point of our products and low average spend, as well as our large number of regular players.”

Industry News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
Interblock
Caesars Entertainment
Pragmatic Play
Flutter Entertainment

Global Gaming Awards London: Who will win Executive of the year 2023?

Gambling Insider takes a look at the nominations list for 20...

CEO Special: Flutter International CEO Dan Taylor returning to roots

Flutter International CEO Dan Taylor meets Louis Thompsett t...

CEO Special: Light & Wonder Gaming CEO Siobhan Lane - optimising superpowers

Siobhan Lane, Light & Wonder Gaming CEO, speaks to Gambling...

CEO Special: Hoiana Resorts' Steve Wolstenholme – the travel man

Hoiana President & CEO Steve Wolstenholme talks to Gambling...

Read Magazine