International lottery giant Allwyn International has published its preliminary unaudited financial report for the second quarter of 2025 (the three-month period ended June 30, 2025). The report outlined favorable increases across the board, with the exception of the company’s operating EBITDA, which suffered a hit.
Another Quarter of Solid Financial Performance
Allwyn’s unaudited Q2 report highlighted total revenue of EUR 2.27 billion ($2.67 billion) for the second quarter of the year. This figure marked a 6% increase from Q2 2024, when the company’s revenue stood at EUR 2.14 billion. Allwyn added that the total revenue change marked an increase of 9% when adjusted for a one-off benefit in the prior year.
Gross gaming revenue (GGR) comprised EUR 2.18 billion ($2.56 billion) of the total revenue figure and likewise experienced a 6% increase year-on-year. Adjusted EBITDA, meanwhile, reached EUR 362 million ($425.1 million), up 6% year-on-year. The adjusted EBITDA margin for the period increased slightly to 36.4%, representing an improvement of 0.3 p.p.
As mentioned, the company’s operating EBITDA experienced a decline, falling from EUR 327 million in Q2 2024 to EUR 301 million ($353.46 million) in Q2 2025 (8% decrease).
The company’s capital expenditure for Q2 2025 increased by 11% to EUR 62 million ($72.8 million). The company’s adjusted free cash flow for the period increased by 6%, reaching EUR 300 million ($352.3 million).
Allwyn reported further optimization of its capital structure with a new EUR 2.15 billion ($2.52 billion) Senior Facilities Agreement, as well as the issuance of EUR 600 million ($704.6 million) of senior secured notes following the end of Q2. This will optimize Allwyn’s cost of funds and will extend its maturity profile.
Allwyn’s Growth Story Continues
Robert Chvatal, Allwyn’s chief executive officer, said that he was “very pleased” with Q2, which he called “another quarter of strong financial performance.” Chvatal praised the increase in total revenue, attributing it to good top-line performance across key markets and the digital channel.
Chvatal was similarly happy with the adjusted EBITDA results, which highlighted good profitability growth, thanks to “solid performances” in Austria, Greece, and Cyprus.
The CEO also addressed the ongoing National Lottery modernization efforts in the UK, expressing excitement about the future of his team’s business in the country.
Chvatal used the opportunity to welcome J&T ARCH as Allwyn’s latest shareholder. The investor fund paid EUR 500 million to secure a 4.27% stake in Allwyn in August.
Chvatal concluded: “Overall, I am very pleased with our continued progress and believe we are well-placed for the remainder of 2025 and the next chapters of our growth story.”
