Allwyn International released its earnings for FY 2023 and Q4 2023. The company saw impressive growth thanks to a key acquisition in the US involving the Illinois Lottery. FY 2023 revenue hit 7.8 billion Euros, a 98% increase over 2022.
Allwyn Chief Executive Officer, Robert Chaval, said:
“I am pleased to report that 2023 was another year of strong financial and operational performance and strategic progress. We continued to execute our growth strategies successfully, while maintaining our relentless focus on safer play and accountability to all our stakeholders.”
Camelot US impacted Allwyn International’s performance in 2023
The major needle-moving factor for Allwyn in 2023 was its acquisition of Camelot, which the company completed in the first quarter. In the US, Camelot was the lottery operator for the state of Illinois, including the Illinois online lottery. The organization under the Allwyn umbrella is now called Allwyn LS Group. The purchase — along with Camelot UK, which operated the country’s National Lottery — brought a near-100% revenue bump for Allwyn.
Chaval said:
“On a reported basis, which includes the impact of the Camelot Acquisitions that we completed in the first quarter, Total Revenue increased 98% year-on-year. Excluding the acquisitions, we delivered strong Total Revenue growth of 6% year-on-year.”
Allwyn International acquired Camelot LS Group on March 6, 2023. At the time of the acquisition, Allwyn indicated there were no plans to change the leadership of the existing group, and the business would continue to support lotteries.
Could Allwyn expand in the US?
Allwyn International is exactly what its name implies — international. The company’s major jurisdictions include Austria, the Czech Republic, Greece, Italy, and the United Kingdom.
Allwyn LS Group in Illinois is the only US market where the brand operates. Given this year’s quality performance, we could see a push from Allwyn to garner a stronger foothold in the US industry, where IGT, Scientific Games, Pollard Banknote Limited, NeoGames, and NeoPollard (an iLottery merger between Pollard and NeoGames) are most prominent.
Photo by PlayiLottery
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