Allwyn’s second-quarter net revenue rose 27% year on year to €1.246 billion, while adjusted EBITDA increased 29% to €458 million and the margin edged up to 36.8% from 36.3%. The group said the quarter was lifted by the PrizePicks acquisition and by continued momentum in Continental Europe and digital betting.
According to Allwyn’s results release, PrizePicks was consolidated from 16 January and had a material effect on the quarter’s comparability. Excluding PrizePicks and the impact of higher gaming taxes in Austria, net revenue would have been up 5% and adjusted EBITDA up 9%, even against a strong comparison period helped by favourable jackpot cycles.
The United Kingdom was a clearer bright spot for profit. Net revenue there was €236 million, and adjusted EBITDA rose to €23 million from €6 million a year earlier, helped by the completion of The National Lottery’s technology transformation and the recovery of transformation costs.
As covered in July, Allwyn had already been widening the National Lottery’s UK offer with the launch of Powerball. Scientific Games later said the technology switch was completed ahead of schedule, replacing the lottery’s legacy 2009 central gaming system and converting 43,500 retailer terminals.
In Continental Europe, net revenue rose 4% to €731 million. Lottery revenue fell 2% to €498 million because the comparative quarter benefited from favourable jackpot cycles, while sports betting revenue rose 12% and iGaming revenue 24%.
Allwyn reaffirmed its FY26 guidance for mid-to-high-20% revenue growth, before about €60 million in one-off impacts, and an adjusted EBITDA margin of about 37%. After the quarter, it also agreed to raise its interest in Next Lotto to 65%, giving it control of the German online lottery reseller.
