The global gaming powerhouse, previously recognized as Sazka, Allwyn International, experienced a phenomenal beginning to the year. Their financial gains skyrocketed by 65% in contrast to the corresponding timeframe last year, reaching an astounding €869 million ($912 million). Several crucial elements contributed to this remarkable expansion.
Primarily, the relaxation of COVID-19 protocols enabled their physical outlets, a substantial component of their enterprise, to resume typical operations. Although certain regions like Greece, Cyprus, Austria, and Italy maintained some constraints, their influence was considerably less pronounced than in preceding cycles.
Furthermore, Allwyn has been making significant strides in the corporate realm. They unveiled intentions to become publicly listed on the New York Stock Exchange through an amalgamation with Cohn Robbins Holdings Corp. Adding to their achievements, they secured the contract for the United Kingdom’s fourth National Lottery permit, despite the incumbent operator, Camelot, presently contesting this determination.
These developments have collectively fueled a surge in Allwyn’s profitability, with modified EBITDA (earnings before interest, taxes, depreciation, and amortization) escalating by an impressive 86% to nearly €269 million.
Robert Chvatal, the Chief Executive Officer of Allwyn International, expressed understandable elation with these outcomes. He perceives it as a testament to the company’s robust performance and calculated endeavors. It appears Allwyn is on an upward trajectory, exhibiting no indications of deceleration!
The year 2022 commenced exceptionally well, with substantial advancements made towards our key objectives. These endeavors establish a robust groundwork for our expansion in the times ahead.”
Chvatal recognized that “persistent inflationary strains” have “curtailed” consumer expenditures broadly, yet he stressed that Allwyn has stayed mostly shielded.
“Due to our budget-friendly product selections, moderate typical expenditure amounts, and extensive, devoted customer group, our enterprise has been comparatively untouched thus far,” he elaborated.
