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newsglobal lottery operator allwyn reports 28 rise in revenue through q1 2024

Global Lottery Operator Allwyn Reports 28% Rise In Revenue Through Q1 2024

We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

Allwyn has released its financial report for Q1 2024, with the lottery operator enjoying a successful start to the year as revenue increased by 28% compared to last year’s figures.

Allwyn Reports Positive Q1 Revenue

Lottery operator Allwyn International saw revenue rise to €2.3billion through the first quarter of the year, which was a €250million rise on predictions from earlier this year.

The growth in revenue during 2024 Q1 can be attributed largely down to the UK segment of Allwyn, which played a significant role compared to last year.

The lottery operator saw a 3% rise in year-on-year growth, which can be broken down into gaming activities and net revenue. Gaming Activities were responsible for €2.02bn in revenue, with net revenue increasing by 16% from the same period last year.

Speaking about his company’s impressive first quarter to the year, Allwyn CEO Robert Chvatal said the Q1 success largely came down to the UK lottery: “I am pleased to report that 2024 has started well, with solid operational and financial performance in the first quarter, supported by our ongoing focus on our growth strategies.

“Q1 also included a key milestone in Allwyn’s history, with our successful start of operation of the UK National Lottery under a new 10-year licence.”

Allwyn’s purchase of the National Lottery from Camelot in 2023 played a big part in year-on-year revenue, with the UK lottery adding a huge chunk of revenue – including scratchcards and EuroMillions.

“This represented the coming to fruition of many years of dedication by a team from across our geographies,” Chvatal said. “We’re excited to have already started work on transforming The UK National Lottery for the benefit of all stakeholders.”

Without the UK section of the company, through the first quarter of 2024 the increase in Allwyn’s revenue would have been just 3% rather than 28%.

Olly Taliku
Olly Taliku
Olly Taliku

Olly Taliku has worked with highly respected sports and gambling websites where he has produced hundreds of articles, as well as being published with Burton Albion and Chesterfield FC. At Burton Olly worked closely alongside the women's team, producing mainly matchday content including reports and interviews, while at Chesterfield he worked in a similar role but with the academy side, as well as some first team content. He also has experience as an accredited Premier League and EFL writer for Prost International where he worked during the 2021/22 season to produce matchday content as an on location reporter. Olly specialises in football as well as long form SEO content plus news, tips and betting but also produces content on basketball, baseball and American football.

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