Allwyn reports 12% year-on-year revenue growth for FY2024
Allwyn International has posted a total revenue of €8.79bn in FY2024, a 12% year-on-year increase driven by growth in Austria, Greece and Cyprus.
Key points:
– FY2024 revenue rose 12% year-on-year to €8.79bn; adjusted EBITDA increased 4% to €1.55bn
– Q4 revenue grew 10% to €2.4bn; Q4 adjusted EBITDA rose 12%
– Excluding the UK and North America, adjusted EBITDA increased 12% year-on-year
Allwyn International has published its preliminary unaudited financial results for the full year ending 31 December 2024, reporting consolidated revenue of €8.79bn ($9.52bn), a 12% year-on-year increase.
Growth was attributed to continued expansion in digital channels and strong performances in Austria, Greece and Cyprus.
Gross gaming revenue for the year totalled €8.43bn, also up 12%, while net revenue rose 11% to €4bn.
Adjusted EBITDA increased 4% to €1.55bn, with the margin narrowing to 38.6% from 41.2% in 2023. Excluding contributions from the UK and North America segments, adjusted EBITDA rose 12%, reflecting stronger profitability in Allwyn’s core European markets.
The group cited excellent organic growth through OPAP in Greece and strong numerical lottery and digital gains in Austria as key contributors.
Digital momentum remained a central theme, with Allwyn also completing the acquisition of a 70% stake in Instant Win Gaming (IWG) in September 2024 and signing an agreement to acquire a 51% interest in Novibet in December.
In the UK, Allwyn began operating the National Lottery in February 2024 after acquiring Camelot UK and completing a transition to a new licence structure. Although margins were impacted under the new model, integration efforts remained on track.
Capital expenditure for FY2024 more than doubled to €256m, reflecting higher investment activity across product, platform and market expansion. Adjusted free cash flow declined 7% to €1.29bn.
Good to know: Q4 2024 results showed continued momentum, with revenue increasing 10% to €2.4bn and adjusted EBITDA up 12% to €437m
The Q4 2024 results build on Allwyn’s previous quarterly momentum, including a 7% revenue rise in Q3 to €2.14bn and consistent gains in digital and international operations.
Looking ahead, Allwyn said it had entered 2025 with strong momentum, completing additional capital raises and expanding its debt facilities.
CEO Robert Chvátal reiterated the company’s focus on both organic and selective inorganic growth, supported by recent international acquisitions and sponsorship deals, including partnerships with Formula One and the McLaren F1 team.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
