Lottery and gaming behemoth, Allwyn, has inaugurated 2024 with remarkable success, announcing robust Q1 trading figures and forecasting substantial revenue expansion throughout the year.
Preliminary estimates place the company’s revenue for the first quarter of 2024 between €2.0 billion and €2.05 billion, a significant surge compared to the €1.59 billion generated in the corresponding period last year. This exceptional outcome was driven by Allwyn’s strong performance across a majority of its operational regions, notably including a complete quarter’s input from its UK ventures, where it assumed control of the National Lottery in February.
Further amplifying the positive news, Allwyn also revealed its plan to offer $450 million in dollar-denominated senior secured notes. This initiative, facilitated by Allwyn Entertainment Finance (USA), is anticipated to further fortify the company’s financial position.
Robert Chvatál, Allwyn’s CEO, conveyed his contentment with the company’s achievements. “The robust operational and financial performance in the first quarter of 2024 is highly encouraging,” he remarked, emphasizing that the outcomes were “largely consistent with projections.” He attributed this success to the company’s “ongoing emphasis on implementing our growth strategy.”
This upward trajectory was mirrored in the company’s adjusted EBITDA, projected to reach between €355 million and €365 million, exceeding the €346.7 million reported in Q1 2023.
Allwyn’s auspicious start to the year, coupled with its strategic capital allocations and penetration into new markets, portrays a company primed for sustained prosperity.
Allwyn is prepared to commence operations at full speed starting in 2024 and into the future.”
Regarding other lottery and monetary updates, Entain has concluded its strategic assessment conducted by its capital allocation group.
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