Allwyn Q2 Revenue Surges 27% to €1.25B as PrizePicks and Europe Drive Growth – Casino.org

Allwyn reported a 27% increase in Q2 net revenue to €1.25 billion ($1.46 billion), helped by the acquisition of PrizePicks and continued growth across its core European lottery operations.

Group adjusted EBITDA increased 29% to €458 million ($533 million), pushing margins up half a percentage point to 36.8%.

Headline growth was boosted significantly by PrizePicks. Allwyn agreed to acquire a 62.3% majority stake in the US daily fantasy sports operator for $1.6 billion in September 2025, consolidating the acquisition in January.

CEO Robert Chvatal said the quarter reflected “sustained momentum in Continental Europe and the contribution from PrizePicks.”

“We also made strong progress against our growth strategy, continuing to invest in our products and player experience and delivering major product enhancements across the Group since the end of the first quarter,” Chvatal said.

He added that underlying revenue rose 5% year-on-year when excluding the PrizePicks integration and higher gaming taxes in Austria.

Allwyn looks to build on this momentum through further M&A. Chvátal confirmed that Allwyn reached an agreement in July to raise its stake in German online lottery reseller Next Lotto from 42% to 65%, securing controlling interest.

The company also reaffirmed its FY2026 group guidance, targeting net revenue growth in the mid-to-high 20% range, excluding previously disclosed one-off items.

UK Profitability Improves Following Tech Overhaul

Continental Europe remained Allwyn’s largest segment, with net revenue rising 4% to €731 million ($851 million).

cross the group, iGaming net revenue jumped 24%, while sports betting rose 12%—partly boosted by activity surrounding the 2026 FIFA World Cup. ^{Lottery net revenue fell 2%, impacted by tough year-over-year comparisons against favorable 2025 jackpot cycles.}

In the UK, National Lottery net revenue edged up 2% on a reported basis to €236 million ($274.7 million). ^{However, total gross gaming revenue fell 16% to €914 million ($1.06 billion), hit by weaker EuroMillions roll-overs compared to the prior-year period.}

UK adjusted EBITDA rose to €23 million ($26.8 million), up from €6 million ($6.9 million) a year earlier. ^{Allwyn attributed the margin expansion to cost recoveries tied to its National Lottery transformation. Capital expenditure dropped 65% to €13 million ($15.1 million) following the completion of the core technology overhaul.}

Despite the operational gains, Allwyn signaled that full-year UK net revenue growth will tracking “below the level previously anticipated” after H1 UK net revenue rose just 2%.

New Lotto and Powerball Products Expand UK Offering

Allwyn rolled out key product updates following the completion of its UK tech overhaul.

The revamped Lotto game debuted on June 10 featuring a new two-round payout structure. Allwyn reported 56 players became millionaires over the following two months, up from 35 during the same period last year. Of those winners, 32 scored £1 million-plus prizes via the new second-round draw.

Powerball followed on July 21, making the UK the first market outside the US to offer the brand. Allwyn confirmed nearly one million UK prizes had been awarded by late August, totaling more than £13.8 million ($18.7 million).

“This summer has marked the beginning of an exciting new chapter for The National Lottery, offering players more opportunities to win and more chances to dream big in the months ahead,” said Andy Carter, senior winners’ adviser at Allwyn.