The gaming and lottery powerhouse, Allwyn, saw a substantial increase in its fiscal year 2023 income, primarily driven by its purchase of the UK National Lottery operator, Camelot UK.
The corporation generated a remarkable €7.88 billion (approximately $8.53 billion) in earnings, a 98% leap from the preceding year. This notable expansion can be credited to the integration of Camelot’s financial results. Excluding the acquisition, Allwyn’s income still experienced a respectable 6% rise, reaching €7.88 billion.
Regarding the purchase, Allwyn’s acquisition of Camelot UK, concluded in March following approval from the UK Gambling Commission, was a significant event in its year. Camelot UK itself had a positive year, posting a 1% growth in UK lottery sales, hitting £8.19 billion (roughly $10.34 billion) for the 2022/23 period.
Apart from the acquisition, Allwyn also concentrated on broadening its own reach, such as rebranding Camelot Illinois to Allwyn North America. This clearly demonstrates Allwyn’s goal of becoming a dominant force in the international lottery sector.
## Allwyn Thrives in 2023 Despite UK Market Slowdown
Allwyn, an international lottery powerhouse, enjoyed a year of substantial expansion in 2023, broadening its reach into emerging territories like Austria and Greece while introducing novel offerings. The firm established crucial alliances, most notably with Vodafone for UK lottery management and with 0xCollection in Switzerland.
This accomplishment mirrored the patterns observed in the third quarter, where Allwyn’s overall earnings and Gross Gaming Revenue (GGR) witnessed a remarkable 98% surge. However, net profits experienced a minor 1% decline after factoring in acquisitions.
Despite the generally favorable trajectory, the UK market presented a slight obstacle. Total earnings and GGR in the UK reached €3.93 billion, a 4% year-over-year reduction, accounting for slightly less than half of the group’s total revenue. This downturn was reflected in a 2% dip in net earnings and a 5% decrease in operational EBITDA. The fourth quarter followed a similar trend with a 2% decrease in GGR (€975.3 million) and a 5% drop in net earnings (€199.5 million).
Focusing on the final quarter of 2023, Allwyn sustained a stable performance. Consolidated revenue, bolstered by acquisitions, soared by 97% to €21.8 billion, with GGR mirroring this expansion at €20.8 billion. Adjusted EBITDA, excluding the influence of acquisitions, saw a robust 15% increase, reaching €3.885 billion for the quarter.
Commenting on the year’s accomplishments, Allwyn CEO Robert Chvatal stated, “2023 marked another year of robust financial and operational execution for Allwyn, alongside significant strategic advancement… Including the effect of our acquisition of Camelot, which was finalized in the first quarter, total revenue climbed by 98% year-over-year.”
He further highlighted the organic expansion, noting, “Excluding the impact of acquisitions, our total revenue delivered a solid 6% year-over-year increase…”
A sincere appreciation to all of you, my fantastic teammates! Your commitment and efforts are why we reached such remarkable achievements in 2023. It fills me with pride to share this experience alongside each of you!
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