Allwyn trading update points towards positive Q1

Revenue is expected to grow significantly. 

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Allwyn has provided a trading update on the first quarter of 2024 and announced the launch of an offering of a USD-denominated Term Loan B, in the principal amount of $450m by Allwyn Entertainment Financing (US). 

With regards to its trading update, revenue is expected to reach between €2bn ($2.17bn) and €2.05bn during the first quarter of 2024, up from €1.59bn recorded in the same period last year. 

This reflects growth across most of Allwyn’s markets and includes a full quarter of contribution from the UK segment, where it began its lottery licence back in February

In Austria there was a strong performance in iGaming GGR, while in the Czech Republic there was double-digit percentage GGR growth. 

Adjusted EBITDA is expected to reach between €355m and €365m, up from the €346.7m seen in Q1 last year, while CAPEX is expected to increase 83.7% year-on-year to €45m. 

Allwyn CEO Robert Chvatal said: “2024 has started well, with trading broadly in line with our expectations at the start of the year, reflecting good operational and financial performance and our ongoing focus on the delivery of our growth strategies.  

“Solid momentum in GGR growth continued in the first quarter, during which Allwyn successfully started the next 10-year licence period of the UK National Lottery, while we have delivered further progress in Adjusted EBITDA.  

“Allwyn remains well positioned for 2024 and for the next chapters of its growth story.” 

In other gaming/financial news today, Entain has concluded a strategic review by its Capital Allocation Committee (CapCo). 

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