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Allwyn Post Nearly Double Revenues for H1 of 2023




Allwyn Post Nearly Double Revenues for H1 of 2023

Allwyn Post Nearly Double Revenues for H1 of 2023

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Allwyn the new operator for the lottery

Allwyn the incoming operator of the UK National Lottery announced its half yearly results showing total revenues of £3.2 billion for the first six months of 2023, which is a rise of £1.6 billion compared to the same period last year.

The figures were boosted by the second quarter results showing revenues jumped 115% or £1.8 billion the company said.

With the takeover of Camelot UK and Camelot Lottery solutions Allwyn boosted their numbers, however even without the acquisition of Camelot revenues rose by 12% in the first quarter and by 7% in the second quarter.

Underlying profits without Camelot soared by 18% in the first half of the year by £555.9 million.

Although the company said consumer confidence was low being affected by the cost of living crisis the business only saw a limited impact on their numbers.

Allywyn said on the results: “Current trends are in line with the resilience of our revenues during previous periods of weaker general consumer sentiment – for example the early period of the Covid-19 pandemic, the Greek financial crisis and the global financial crisis – when demand for our products remained resilient, especially in comparison with other consumer sectors.”

Apart from the Camelot business Allwyn operates lotteries in Austria, Italy and Greece.

Robert Chvatal, chief executive of Allwyn, said: “The good performance in our existing geographies was driven primarily by strong growth in digital, where we have sustained our momentum in product development and innovation.

“Alongside this, we continue to evolve and digitise the customer proposition in physical retail, while during the quarter we once again saw resilience of demand for our products, even in an environment where consumer spending remains under pressure.”

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