Allwyn has released its preliminary unaudited financial results for the second quarter of 2025, showing continued growth across its operations. The company reported higher revenue, improved free cash flow and further investment in technology and infrastructure, although operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw a decline.
Revenue growth across key markets
Total revenue for the quarter reached €2.27 billion, representing a 6 percent increase compared with the same period in 2024. Gross gaming revenue also rose by 6 percent to €2.19 billion. Net revenue followed the same trend, growing by 6 percent year on year.
The company’s performance was supported by growth in the United Kingdom, where EuroMillions and other numerical lotteries played a key role. Online Instant Lotteries also delivered higher activity levels, helped by new game launches and strong jackpot cycles.
EBITDA and cash flow performance
Operating EBITDA declined by 8 percent during the quarter. However, adjusted EBITDA improved by 6 percent to €362 million, reflecting a margin of 36.4 percent. This result underlines stable profitability despite rising investment costs.
Adjusted free cash flow reached €300 million, which also marked a 6 percent increase. The company’s net debt to adjusted EBITDA ratio remained steady at 2.3 times, showing continued balance sheet stability.
Investment in technology and retail infrastructure
Allwyn increased capital expenditure by 11 percent to €62 million. More than 30 new systems were activated after the quarter closed, including a new central lottery system and upgraded retail terminals. These investments are expected to support product development and enhance customer experience.
The focus on technology also strengthens digital growth, an area where the company continues to see significant momentum. By expanding both retail and online channels, Allwyn aims to provide players with a more seamless experience.
Strengthened funding position
Following the quarter, Allwyn finalised a €2.15 billion Senior Facilities Agreement and issued €600 million of senior secured notes. These financing steps were taken to optimise funding costs and extend the maturity of debt. The measures provide additional flexibility for ongoing operations and future expansion.
CEO statement
Robert Chvátal, Chief Executive Officer of Allwyn, commented on the results, “I am very pleased to report another quarter of strong financial performance following our strong first quarter, reflecting continued successful execution of our growth strategies. This excellent performance reflected our focus on growth in the digital channel, alongside the dedication of our teams across markets to enhancing the customer proposition and the player experience. As always, we delivered this growth while maintaining our commitment to player safety and upholding our responsibilities to all stakeholders.”
Allwyn sells casino assets
Earlier Allwyn announced two major transactions involving the divestment of casino assets in Germany and Australia, alongside the full acquisition of Stoiximan, a leading digital sports betting and iGaming operator in Greece and Cyprus. The combined moves support Allwyn’s focus on core markets and growth in the digital gaming sector.
