Tag: revenue

European lottery group Allwyn reported consolidated revenue of €2 billion ($2.14 billion) for the first time in its preliminary unaudited results for the second quarter ended June 30, a rise of 114.7% year-on-year.  

Robert Chvatal, CEO of Allwyn, commented favorably on the results achieved during the three-month period: “I am pleased to report that Allwyn delivered another quarter of strong growth, profitability, and strategic progress.“

The company noted that the rise in consolidated revenue was driven by its recent acquisitions, namely its purchase of Camelot UK Lotteries in February this year; and Camelot’s US-facing group of companies, Camelot Lottery Solutions, which was completed in March this year. According to the company, excluding these acquisitions, the consolidated total revenue was €1 billion ($1.07 billion), which was a rise of just 7.1% yearly.

“We delivered organic revenue growth across markets and also saw a further step up in profit and free cash flow generation owing to this being the first full quarter of ownership of our recent acquisitions, Camelot UK and Allwyn LS Group (formerly Camelot LS Group),” Chvatal added.

The group acquired Camelot UK in February this year. The agreement covers all Camelot’s UK operations, including current rights to operate the National Lottery until February 2024. Allwyn will take over from this date after it was awarded the fourth National Lottery license. 

This followed Allwyn finalising an agreement to acquire US-facing Camelot LS, since renamed Allwyn LS Group, in January. Both were purchased from the Ontario Teachers’ Pension Plan Board (OTPP).

According to the company, gross gaming revenue (GGR) totaled €1.96 billion ($2.10 billion) for the period, an increase of 115.3%. Meanwhile, net revenue was €906.7 million ($971.9 million), a rise of 51%. EBITDA was €381 million ($408.4 million), a rise of 29% compared to the same quarter the prior year.

In terms of operating locations, Allwyn recorded a total revenue of €373.5 million ($399.8 million) in Austria, which was up by 1% yearly, while Italian revenue reached €557 million ($597 million). Furthermore, total revenue in the Czech Republic and Greece, and Cyprus also rose. For the Czech Republic, total revenue was €126.2 million ($135.2 million); while in Greece and Cyprus, the total revenue was €521 million ($558.4 million), up by 13%.

However, in the UK, Allwyn saw a 3% dip in total revenues to €980.3 million ($1.05 billion). 

H1 Results

For the six months ended June 30, revenue almost doubled year-on-year from €1.87 billion ($2 billion) to €3.69 billion ($3.95 billion). Excluding the acquisition impact, group revenue climbed 11.8% to €2.09 billion ($2.24 billion).

UK revenue in H1 hit €2 billion ($2.14 billion), while Italian revenue reached €1.14 billion ($1.22 billion) and Greece and Cyprus revenue reached €1.07 billion ($1.14 billion). Moreover, revenue in Austria amounted to €761.8 million ($816.5 million),  while revenue in the Czech Republic reached €251.6 million ($269.6 million) and Allwyn LS Group €93.6 million ($100.3 million).

Operating EBITDA was 26.3% higher at €686.6 million ($735.9 million) and adjusted EBITDA increased by 31.6% to €727.7 million ($780.03 million). Adjusted free cash flow in the half climbed 30% to €685 million ($734.2).

Robert Chvatal, CEO of Allwyn

“We continued to deliver strong margins and solid free cash flow generation, with only a limited impact of inflation on our cost base, reflecting our favorable cost structure, with our largest cost categories being directly linked to revenue and our focus on cost and capital efficiency,” Chvatal commented.

“Overall, I am very pleased with Allwyn’s continued progress. I believe we are well placed for the rest of 2023 and the next chapters of our growth story,” the CEO concluded.

Access here to see Allywn’s complete Q2 report.

Sports technology provider Sportradar has revealed the financial results for the quarter ending on September 2023. In its report, the Switzerland-based tech group noted that the revenue in Q3 increased by 12% to €201.0 million ($212.1 million) when compared to the same period last year, driven by growth across all segments. 

Despite the revenue increase, total profit from continuing operations decreased by 63.8% to €4.6 million ($4.8 million), down from €12.8 million ($13.5 million) in the same quarter last year. The company’s Adjusted EBITDA increased 38% to €50.5 million ($53.3 million) compared with the third quarter of 2022, primarily due to strong revenue growth and higher operating leverage.

Year-to-date, group revenue reached €625 million ($658 million) in the first nine months of the year, up 16% from the same-period 2022 figure of €529.9 million ($557 million), with adjusted EBITDA up 28% to €127.3 million ($133.8 million).

Carsten Koerl, Chief Executive Officer of Sportradar, said: “As the leader in our industry, we aim to consistently deliver value to our clients, partners and shareholders. For 2023 we remain on track to deliver a strong growth year and are well-positioned to maintain that momentum into 2024.”

Along with the Q3 results, the company announced a reduction in its global workforce as part of “a broader set of strategic initiatives” that the company hopes will enable it to strengthen its organization and focus on market opportunities ahead of it.

Sportradar records growth in all segments

The company recorded growth across its business and core geographic sectors during Q3, including Rest of World (RoW) Betting, RoW Audiovisual (AV), and the US.

The RoW Betting segment revenue increased by 11% from €100 million ($105 million) to €112.2 million ($118.2 million) and EBITDA grew by 16% from €48.2 million ($50.8 million) to €56.1 million ($59.1 million). As per Sportradar, the increase in sales was mainly due to its live odds and live data products, which grew 18% year-on-year.

RoW AV revenue was €38 million ($40 million) at the close of Q3, a 15% increase from corresponding 2022 income of €33.1 million ($34.9 million), and EBITDA for the segment increased 5% to €13.3 million ($14 million), which the company said was driven by a new deal with South American football body CONMEBOL and increased sales to both its new and existing customers.

Sportradar’s US revenue amounted to €33 million ($34.8 million), up 11% Y-O-Y. The EBITDA for the segment went up 58% from €3.5 million ($3.7 million) to €8.2 million ($8.6 million), which as per Sportradar was attributed to the growth for its betting and gaming and audiovisual products in the country.

Q3 partnerships and highlights

During the quarter, Sportradar expanded its BetMGM partnership to include official NBA data. The company will, for the first time, provide the operator with products and services that leverage NBA optical tracking data as a result of its exclusive agreement with the NBA. This will enable BetMGM to grow its prop markets, same-game parlays, as well as the in-play betting market.

The company’s recent highlights also include Sportradar announcing a four-year extension with NASCAR of the company’s long-term media rights partnership with the league, which now includes official betting data. This agreement will include live timing and scoring data and expanded betting content.

Sportradar has also been selected by the Taiwan Sports Lottery Company to power its Sports Lottery with a customized omnichannel sportsbook and player management solution.