Allwyn, the global gaming powerhouse previously called Sazka, experienced a remarkable opening quarter in 2023. Their earnings surged to €869 million, a staggering 65% jump from the corresponding period the previous year. This substantial expansion was driven by the return to pre-pandemic conditions in many of their operational territories as COVID-19 limitations were relaxed.
Although certain areas like Greece and Cyprus continued to navigate the pandemic’s effects, Allwyn’s physical store operations rebounded strongly, playing a key role in their achievements. Even more noteworthy was their adjusted EBITDA, which leaped by 86% to hit €269 million. This signifies a highly lucrative phase for the enterprise.
This triumph unfolds amidst a whirlwind of developments for Allwyn. They’ve unveiled intentions to list on the New York Stock Exchange and have even secured an initial victory as the frontrunner for the UK’s prestigious National Lottery concession. This marks a significant milestone, though it’s presently facing legal objections from the incumbent operator, Camelot.
Chief Executive Robert Chvatal conveyed his satisfaction with the robust start to the year, emphasizing both the outstanding financial outcomes and the notable strategic advancements the company is undertaking.
The initial three months of this year have been quite stimulating for our organization. We’ve implemented numerous initiatives that will position us for substantial expansion down the line.”
Chvatal proceeded to concede that although rising prices have negatively impacted typical consumers, Allwyn hasn’t truly experienced the strain.
“Our offerings are reasonably priced, individuals are currently spending less, and we possess a remarkably devoted clientele, so we’re managing adequately at present.”
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