{"id":6818,"date":"2024-09-11T15:12:26","date_gmt":"2024-09-11T14:12:26","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6818"},"modified":"2024-09-11T15:12:30","modified_gmt":"2024-09-11T14:12:30","slug":"allwyn-international-completes-iwg-acquisition-amid-changing-uk-market-dynamics","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/09\/11\/allwyn-international-completes-iwg-acquisition-amid-changing-uk-market-dynamics\/","title":{"rendered":"Allwyn International Completes IWG Acquisition Amid Changing UK Market Dynamics"},"content":{"rendered":"\n

Allwyn International<\/strong> has demonstrated its ability to successfully execute strategic directives to further transform its global lottery operations and products.<\/p>\n\n\n\n

The lottery conglomerate\u2019s unaudited Q2 2024 results showed revenues increased to \u20ac2.15 billion ($2.32 billion), up 5% from \u20ac2 billion ($2.16 billion) in the same period in 2023.<\/p>\n\n\n\n

The group\u2019s financial performance continues to strengthen as Allwyn UK \u200b\u200bcommenced implementation of the National Lottery licence on 1 February 2024.<\/p>\n\n\n\n

The UK contract continues to impact Allwyn International\u2019s consolidated performance and comparability to the prior year.<\/p>\n\n\n\n

As noted by management: \u201cDifferences between the business models of the acquired businesses and existing operations, and between the previous and current licenses for the UK National Lottery, also result in profit margins not being directly comparable between periods.\u201d<\/p>\n\n\n\n

Allwyn International continued to deliver net revenue growth, reaching \u20ac941 million ($1.02 billion) (Q2 2023: \u20ac906 million ($980 million)), reflecting continued \u201corganic growth\u201d across its European subsidiaries OPAP<\/strong> (Greece), SAZKA<\/strong> (Czech Republic) and Casinos Austria.<\/strong><\/p>\n\n\n\n

Including the National Lottery adjustments, the group accounts saw operating margins fall 6% to 36% (2023: 42%) as adjusted EBITDA in Q2 fell 11% to \u20ac340 million ($367.2 million). Allwyn said EBITDA excluding the UK impact was +4% for the period.<\/p>\n\n\n\n

Subsequent corporate events led to the completion of Allwyn\u2019s investment in Instant Win Gaming (IWG)<\/strong>, giving Allwyn a 70% stake in the company, which has developed 250 instant win games and is a direct supplier for 25 international lotteries.<\/p>\n\n\n\n

In building its game development capabilities, Allwyn will retain Rhydian Fisher and Simon Bucknall, IWG’s co-founders, in their current roles as CEO and COO respectively following the completion of the acquisition.<\/p>\n\n\n\n

Robert Chv\u00e1tal<\/strong>, Allwyn CEO, commented: \u201cI am pleased to report another quarter of continued progress and solid financial performance, reflecting the continued execution of our growth strategies.<\/p>\n\n\n\n

We delivered solid profitability growth outside the United Kingdom and once again benefited from a strong performance by our equity method investees. Excluding the United Kingdom, as well as Allwyn LS Group, which was acquired during the first half of 2023, adjusted EBITDA increased 4% year-on-year.\u201d<\/p>\n\n\n\n

Following the quarter, we are pleased to announce the completion of our planned investment in 70% of Instant Win Gaming, a leading provider of online instant win games, which will allow us to expand our presence and capabilities.\u201d<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Allwyn International has demonstrated its ability to successfully execute strategic directives to further transform its global lottery operations and products. The lottery conglomerate\u2019s unaudited Q2 2024 results showed revenues increased to \u20ac2.15 billion ($2.32 billion), up 5% from \u20ac2 billion ($2.16 billion) in the same period in 2023. The group\u2019s financial performance continues to strengthen […]<\/p>\n","protected":false},"author":10,"featured_media":6819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[7967,9528,9738,207,61,3675,7917,9739],"class_list":{"0":"post-6818","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-gambling","8":"category-news","9":"tag-allwyn-international","10":"tag-financial-performance","11":"tag-iwg","12":"tag-license","13":"tag-lottery","15":"tag-robert-chvatal","16":"tag-strategic-transformation"},"yoast_head":"\nAllwyn International Completes IWG Acquisition Amid Changing UK Market Dynamics - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/09\/11\/allwyn-international-completes-iwg-acquisition-amid-changing-uk-market-dynamics\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allwyn International Completes IWG Acquisition Amid Changing UK Market Dynamics - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Allwyn International has demonstrated its ability to successfully execute strategic directives to further transform its global lottery operations and products. The lottery conglomerate\u2019s unaudited Q2 2024 results showed revenues increased to \u20ac2.15 billion ($2.32 billion), up 5% from \u20ac2 billion ($2.16 billion) in the same period in 2023. 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