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Allwyn reports 23% increase in Q2 GGR

Allwyn has reported consolidated gross gaming revenue (GGR) of €901.7m ($895.5m) for the second quarter of 2022, a 23% year-on-year increase.

allwyn q2

The increase, as noted by Allwyn, reflected “continued organic growth and a more normalised operational environment in certain geographies after the full reopening of physical retail business across our operations.”

Net gaming revenue (NGR) for the period grew 24% year-on-year to €550.9m, with consolidated Adjusted EBITDA climbing by 17% to €277.1m. The Adjusted EBITDA margin was down 3% to 50%.

Allwyn noted that it continued strong growth in online sales, with its online channel contributing 44% of GGR in the Czech Republic, up from 38% in Q2 2021.

The group added that it is continuing to deliver on its inorganic growth strategies through acquisitions and participation in tenders, including its continuing preparations to take over as the operator of the UK National Lottery once the Gambling Commission confirms the awarding of the fourth licence.

“I am pleased to report that in the second quarter of 2022, Allwyn delivered yet another set of strong financial results and continued to make good progress on key strategic initiatives as part of our organic and inorganic growth strategies,” said Allwyn CEO Robert Chvatal.

“We reached an agreement with OPAP to acquire OPAP’s 36.75% interest in Kaizen. Kaizen is a fast-growing online sports betting and iGaming operator using proprietary gaming technology, founded by the same team that founded Stoiximan. 

“The company operates under the Betano brand and is present in seven markets, with a particularly strong presence in Romania and Portugal and a rapidly growing business in Brazil. I have great admiration for what the team has achieved at Stoiximan and am excited about the future of Betano.”

The closing of this transaction is pending customary regulatory approvals, and is expected in Q4.

Chvatal added: “Overall, I am very pleased with Allwyn’s financial performance and strategic developments in the quarter and I look forward with confidence and excitement to the next quarters and a very bright future.”

For the six months ended 30 June 2022, Allwyn reported GGR of €1.77bn, a 41% increase from the prior-year period. NGR was up 50% to €1.08bn, with Adjusted EBITDA climbing by 45% to €543.8m.

In June, previous National Lottery licence holder Camelot noted that it had raised its second-highest sum ever for good causes, despite a £283m ($347m) drop in ticket sales for the 2021/22 financial year.

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