Worldwide lottery conglomerate, Allwyn, announced a substantial increase in earnings for the third quarter of 2023, primarily fueled by their purchase of Camelot UK, the organization managing the UK National Lottery. Nevertheless, if the Camelot acquisition is disregarded, Allwyn’s fundamental revenue experienced a minor decrease.
The corporation’s total revenue hit €2.01 billion, accompanied by a net profit of €883.3 million. This signifies a 98% rise in both overall revenue and gross gaming revenue (GGR) in contrast to the corresponding period the previous year. This expansion is almost entirely credited to integrating Camelot’s financial performance. Without Camelot, Allwyn’s revenue would have witnessed a 1% reduction.
Allwyn’s Chief Executive Officer, Robert Chvatal, conveyed contentment with the firm’s achievements, emphasizing both the fiscal outcomes and strategic advancements. The incorporation of Camelot, a prominent entity in the lottery sector since 1994, has undoubtedly placed Allwyn in a favorable position for considerable expansion in the foreseeable future.
Allwyn experienced a phenomenal Q3! Our earnings surged by 98% year-over-year. This is a clear testament to the robustness of our core operations and the significant influence of our Camelot purchase earlier this year. Throughout the initial nine months, we’ve generated €5.7 billion in revenue and €2.6 billion in net earnings. That’s a remarkable 98% and 43% jump, respectively, compared to the corresponding timeframe last year. Excluding the Camelot acquisition, we still witnessed healthy expansion with revenue climbing 7% and net earnings rising 8%. Despite certain headwinds within the sector this quarter, I’m immensely pleased with Allwyn’s ongoing achievements. We are poised for an exceptional 2023!” – Robert Chvatal, CEO of Allwyn