In the second quarter of 2025, Allwyn’s focused investment in digital expansion yielded a 6% increase in company-wide revenue, reaching €2.27 billion, according to the latest company data. This growth aligns with the 6% increase seen in the first quarter of the year and represents a step up from €2.15 billion reported in the same period last year.
Allwyn reported that gross gaming revenue (GGR) rose by 6% year-on-year to €2.19 billion, with a notable 42% contribution from digital operations—a rise of 16% compared to the previous year. The CEO, Robert Chvatal, expressed satisfaction with the results, attributing them to effective execution of growth strategies. “Our strong financial performance in Q2, following a robust first quarter, showcases our team’s dedication to enhancing the customer experience and maintaining player safety,” he noted.
The UK market remained a significant contributor, driven by Allwyn’s 2024 acquisition of the UK National Lottery. GGR in the UK hit €1.09 billion, marking a 7% increase from the previous year. EuroMillions played a key role, benefiting from favorable jackpot cycles and strategic promotional events. Additionally, online instant win games saw growth through new launches and increased player engagement. This was further bolstered by high prize payouts during the comparative period.
Allwyn’s strategic upgrade of the National Lottery’s technology infrastructure underscores its commitment to innovation. Post-Q2, the company implemented a major tech overhaul from August 2-4, introducing new terminal software and a platform upgrade. This effort will see over 30,000 new Wave terminals installed at retail partner locations, replacing older machines.
Expansion was not limited to the UK. In Greece and Cyprus, GGR increased by 5% to €583 million, with a 9% rise in the online channel. The physical retail segment also showed solid growth of 3%. Similarly, Austria reported a 4% increase in GGR to €403 million, supported by robust performances in numerical lotteries and instant lotteries. In the Czech Republic, where Allwyn originated, GGR surged 9% to €133 million, outpacing other regions.
However, not all was positive for Allwyn. In North America, the Technology and Content segment saw a 7% decrease in revenue to €54 million, attributed to unfavorable cycles in multi-state jackpot games like Powerball and Mega Millions.
Despite the mixed results across regions, Allwyn’s net revenue for Q2 rose by 6% to €994 million. The operating EBITDA, however, experienced an 8% decline to €301 million. Adjustments related to the acquisition of Instant Win Gaming (IWG) resulted in an adjusted EBITDA of €362 million, reflecting a 6% year-on-year increase. The EBITDA margin slightly improved to 36.4%.
Reflecting on the first half of the year, total revenue increased by 6% to €4.52 billion, with GGR also rising by 6% to €4.34 billion. Although operating EBITDA fell by 5% to €612 million, adjustments led to a 4% increase, totaling €728 million in adjusted EBITDA.
Looking forward, Robert Chvatal was optimistic about Allwyn’s prospects, stating, “We are well-positioned for the remainder of 2025 and the chapters that lie ahead in our growth journey.”
In line with its expansion strategy, Allwyn continued to make strategic moves. This includes the acquisition of a majority stake in Logflex MT Holding Limited, parent company of Novibet, for an initial €217 million. Further payments up to €110 million hinge on business performance. Additionally, Allwyn divested land-based casino assets in Germany and Australia, while acquiring the remaining shares in Stoiximan, an online operator in Greece and Cyprus.
These moves reinforce Allwyn’s digital-focused strategy and global expansion ambitions. Kresimir Spajic’s appointment as CEO of the newly established Allwyn Digital underscores this digital transformation. His role, effective from September 1, involves spearheading Allwyn’s global digital initiatives.
Finally, the period saw a significant shareholder transaction as KKCG sold a 4.27% stake in Allwyn International to J&T Arch Investment, another Czech investment fund. This sale is expected to broaden the support base for Allwyn, with KKCG maintaining a 95.73% majority stake. Following this transaction, Allwyn’s share capital was valued at €11.20 billion, reflecting investor confidence in its strategic direction.
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