## Allwyn Announces Robust Q1 2024 Business Update, Anticipates Substantial Income Surge
Allwyn, a prominent global lottery corporation, recently published a positive business update for the initial quarter of 2024, driven by solid results across its primary markets. The firm also declared the offering of $450 million in senior secured notes maturing in 2031 by its subsidiary, Allwyn Entertainment Financing (USA).
The update indicates that Allwyn forecasts revenue for Q1 2024 to range between €2.0 billion and €2.05 billion, a considerable rise compared to €1.59 billion during the corresponding period last year. This expansion is attributed to favorable contributions from the majority of Allwyn’s operational divisions, including a complete quarter’s contribution from its UK operations, which commenced managing the National Lottery in February.
Specifically, Allwyn witnessed notably strong internet gaming revenue in Austria and attained double-digit percentage expansion in overall revenue in the Czech Republic.
Adjusted EBITDA is estimated to reach between €355 million and €365 million, exceeding the €346.7 million recorded in Q1 2023. Capital expenditures are anticipated to experience a significant year-over-year increase of 83.7%, reaching €45 million.
Robert Chvátal, Chief Executive Officer of Allwyn, conveyed contentment with the company’s performance, remarking, “2024 has commenced positively with trading aligning with our projections at the year’s outset, demonstrating sound operational and financial performance, and sustained emphasis on executing our growth strategy.”
He further commented, “The robust momentum in revenue growth has persisted into the first quarter, during which we effectively initiated the UK National Lottery license for the upcoming decade, while we have achieved further advancements in Adjusted EBITDA.”
Allwyn is preparing for a period of success in 2024 and the following years.”
At the same time, Entain disclosed earlier that its internal strategic ventures division, CapCo, has concluded its most recent assessment.