Allwyn International has reported year-over-year revenue growth of 4%, signaling the implementation of a successful M&A strategy throughout 2025.

Full-year trading saw total revenue go up to €9bn (£7.8bn) in comparison to the €8.7bn in 2024. Of that, GGR represented €8.6bn – up from the previous year comparisons of €8.3bn.

Net revenue was also up 4% YoY for a total of €4.1bn (2024: €3.9bn). Meanwhile, operating EBITDA was down 5% YoY to €1.3bn compared to €1.4bn in 2024. Adjusted EBITDA for FY25 came in at €1.6bn, up 4% YoY from the previous year (2024: €1.5bn).

For the final quarter, total revenue was down 1% to €2.3bn (Q4’ 2024: €2.4bn), with GGR also marginally behind at €2.2bn (€2.3bn). Net revenue went up 1% for a total of €1.1bn, while operating EBITDA came in at €417m, up 5% from €398m in Q4 2024. Adjusted EBITDA climbed 14% for a total of €497m (Q4’ 24: €435m).

Big year for big deals

Allwyn International’s growth was supplemented by a list of major acquisitions and contract agreements throughout 2025.

Going back to April, the firm significantly expanded its digital presence in Germany with the acquisition of a 25.1% interest in licensed online reseller of draw-based games Next Lotto GmbH, with the interest subsequently increasing to 34.7% in November.

Meanwhile, its retail market share was scaled back, with Allwyn selling its 10 casino properties in Lower Saxony for a total of €67m in gross proceeds.

A major success was also registered in Italy, where the regulator awarded the next nine-year Italian Lotto concession to LottoItalia – a consortium between Allwyn and Brightstar, with each having a 32.5% and a 61.5% ownership interest respectively.

Controlling shareholder KKCG Group sold a 4.27% equity interest in Allwyn International to J&T ARCH in August, with total proceeds equating to €500m. In the same month, Allwyn’s Greek and Cyprus brand OPAP acquired a 15.5% stake in domestic player Stoiximan, increasing its share ownership to 100%.

OPAP was also selected as the preferred operator for the next 12-year concession to exclusively operate instant and passive lotteries in Greece.

Additionally, Allwyn and OPAP agreed to merge, with Allwyn’s stake in the entity due to increase from 52% to 78.5% under the new structure. Consolidating its European operations, Allwyn will transition all of its umbrella brands to a single name identity.

Allwyn was also active in the US, where it brokered a deal with domestic daily fantasy sports operator PrizePicks to acquire a controlling 62.3% stake in the company. PrizePicks will start being reported on as part of Allwyn’s North America business starting Q1 2026.

Growth by geography

Having the above developments in mind, total full-year revenue for Continental Europe, which includes the markets of Austria, the Czech Republic, Italy, Greece and Cyprus, was €4.7bn, up 6% YoY from €4.5bn in 2024. Net revenue came in at €3bn (FY24: €2.8bn), while Adjusted EBITDA was up 2% for a total of €1.3bn.

North America revenue totalled €232m, down 1% from €234m in 2024. Net revenue was €232m, with a similar marginal difference from the €234m the previous year.

Lastly, the UK – where Allwyn is the operator of the National Lottery – also brought improved performance. Total revenue for the market was €4bn, up 2% from the previous year. Net revenue increased to €962m from €909m in 2024. 

Robert Chvatal, Allwyn CEO, concluded: “2025 was a pivotal year for Allwyn. We continued to deliver on all dimensions of our strategy, driving good financial performance across our business, and agreed two transformative transactions – strengthening our positioning for sustainable long-term growth and an exciting future as a listed company.

“The significant steps taken this year further strengthen our platform, and position us well to deliver sustainable long- term value as a listed company.”