Allwyn International FY 2024 Preliminary Unaudited Financial Results and Update on Current Trading

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• Total Revenue of €8,794.6 million in FY 2024, +12% YoY, reflecting strong organic growth in Austria and Greece and Cyprus in particular, in addition to continued momentum in digital channel
• Adjusted EBITDA of €1,545.5 million, +4% YoY; excluding United Kingdom segment and North America, Technology and Content, +12% YoY
• Consolidated Net debt / Adjusted EBITDA of 2.2x as of 31 December 2024

Selected consolidated financial data (FY 2024/2023)

Selected consolidated financial data (Q4/Q4)

In Q1 2023, we completed the acquisitions of Camelot UK, the operator of the UK National Lottery until 31 January 2024, and Allwyn LS Group (formerly referred to as Camelot LS Group), the operator of the Illinois Lottery under a private management agreement (the “Camelot Acquisitions” [1]). Subsequently, Allwyn UK started operation of the UK National Lottery under a new licence on 1 February 2024. In September 2024, we acquired a 70% interest in Instant Win Gaming (IWG), a leading supplier of online instant games to lotteries, which is reported together with Allwyn LS Group as “North America, Technology and Content”. Collectively, these developments have a significant impact on consolidated metrics of the Group and comparability with previous periods. Differences between the business models of the acquired businesses and existing operations, and between the previous and current licences for the UK National Lottery, also results in profit margins not being directly comparable between periods.

Robert Chvatal, Allwyn CEO, commented:

“I am pleased to report that 2024 was another year of solid financial performance and strategic progress, as we continued to execute our growth strategies successfully.

Total Revenue increased 12% year-on-year, reflecting continued growth in the digital channel, the strength of our product portfolio, and our focus on bringing best-in-class content to customers, while we also remained focused on our responsibilities to all stakeholders — in particular, our commitment to safe and responsible play. Strong momentum continued in the fourth quarter, in which we achieved double-digit growth year-on-year.

We delivered good growth in profitability in 2024, with Adjusted EBITDA +4% year-on-year. This performance benefited from excellent growth in Greece and Cyprus and another strong performance from our equity method investees. It was also achieved despite the move to a new incentive and profitability mechanism in the United Kingdom following the start of the new licence in February. Adjusted EBITDA excluding the United Kingdom, Allwyn LS Group and the recent acquisition of Instant Win Gaming increased 12% year-on-year.

With respect to inorganic growth, we were active across all pillars of our strategy during 2024. Considering tenders, we were delighted to successfully commence operation of the new UK National Lottery licence in February. With respect to strategic bolt-on acquisitions, we were pleased to complete our planned investment in a 70% interest in Instant Win Gaming in September and in December we agreed to acquire a 51% stake in Logflex MT Holding Limited, the owner of the growing online sports betting and gaming group Novibet. Both transactions are in line with our strategy of making selective acquisitions in relevant products, technologies and content to support future growth. During the year we also saw a small increase in our interest in OPAP, as a result of its share buyback programme.

2024 was also another successful year in terms of financing, a testament to the strength of our credit. A highlight was our debut transaction in the USD institutional term loan B market, raising USD 450 million. This followed our debut USD bond issuance in 2023 and further diversified our access to capital, as well as extending our maturity profile and optimising our cost of funds. We also entered into a €500 million accordion facility with a syndicate of international banks during the year. This strong momentum has continued into 2025, and we are grateful for the continued support from our investors. In January, we completed a USD 100 million upsizing and repricing of the USD term loan B and in March, we completed our debut transaction in the EUR term loan B market, raising €475 million, while also upsizing our USD term loan B by a further USD 75 million.

Beyond our strategic and financial achievements, we continued our partnerships with global initiatives such as the Wings for Life World Run, which saw almost 1,000 employees come together with other participants across multiple markets to support spinal cord research. I'm also proud to have recently announced Allwyn's sponsorships of Formula One and the McLaren F1 team, raising awareness of Allwyn on the global stage and helping us to underline the power of our lotteries to do good in the world.

I want to thank all my colleagues whose dedication and hard work has contributed to this performance and once again to welcome those that have joined us during the year.

Looking forward as always, I am excited about what the future holds for Allwyn as we continue to focus on driving both organic and inorganic growth. The new year has started well and Allwyn is well positioned for the next chapters of our growth story.”

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Disclaimer

This document does not represent an offer, constitute or form part of, and should not be construed as an advertisement, an offer or an invitation to subscribe for or to purchase securities of the Company or its subsidiaries or affiliates from time to time. The preliminary unaudited results for three and twelve months ended 31 December 2024, are an estimate, based on information available to management as of the date of this release, and are subject to further changes upon completion of the Company’s standard quarter and year-end closing procedures. This update does not present all necessary information for an understanding of the Group’s financial condition as of the date of this release, or its results of operations for the three months or for the year ended 31 December 2024. As the Company completes its year-end financial close process and finalises its financial statements for the year, it will be required to make significant judgments in a number of areas. It is possible that the Company may identify items that require it to make adjustments to the financial information set forth above and those changes could be material. The Company does not intend to update such financial information prior to release of its final audited annual financial statements.

This document does not represent an offer, constitute or form part of, and should not be construed as an advertisement, an offer or an invitation to subscribe for or to purchase securities of the Company or its subsidiaries or affiliates from time to time. The preliminary unaudited results for three and twelve months ended 31 December 2024, are an estimate, based on information available to management as of the date of this release, and are subject to further changes upon completion of the Company’s standard quarter and year-end closing procedures. This update does not present all necessary information for an understanding of the Group’s financial condition as of the date of this release, or its results of operations for the three months or for the year ended 31 December 2024. As the Company completes its year-end financial close process and finalises its financial statements for the year, it will be required to make significant judgments in a number of areas. It is possible that the Company may identify items that require it to make adjustments to the financial information set forth above and those changes could be material. The Company does not intend to update such financial information prior to release of its final audited annual financial statements.

We present certain unaudited pro rata financial information. The unaudited pro rata financial information included in this document has been prepared by the Company’s management. The unaudited pro rata financial information is not intended to, and does not represent, historical or future performance for any period.

This announcement does not form, and should not be construed as, the basis of any credit analysis or other evaluation, an investment or lending recommendation, advice, a valuation or a due diligence review. This announcement may include forward-looking statements regarding certain of our plans and our current goals, intentions, beliefs and expectations concerning, among other things, our future results of operations, financial condition, liquidity, prospects, growth, strategies, pending acquisitions or other transactions, financing plans and the industries in which we operate. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Generally, but not always, words such as “may,” “could,” “should,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “assume,” “believe,” “plan,” “seek,” “continue,” “target,” “goal,” “would” or their negative variations or similar expressions identify forward-looking statements. By their nature, forward-looking statements are inherently subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Please refer to “Risk Factors” in Allwyn’s Annual Report and Accounts 2023 for risks and uncertainties relating to the Company, its subsidiaries and its equity method investees. We caution you that forward-looking statements are not guarantees of future performance and that the Group’s actual results of operations, financial condition and liquidity and the development of the industries in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if our results of operations, financial condition and liquidity and the development of the industries in which we operate are consistent with the forward-looking statements contained in this document, those past results or developments may not be indicative of results or developments in future periods.

We do not undertake any obligation to review, update or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this document.

No warranty or representation of any kind, express or implied, is or will be made in relation to, and to the fullest extent permissible by law, no responsibility or liability in contract, tort, or otherwise is or will be accepted by us or any of our directors, officers, employees, advisers or agents, or any other party as to the accuracy, completeness or reasonableness of the information contained in this announcement, including any opinions, forecasts or projections. Nothing in this document shall be deemed to constitute such a representation or warranty or to constitute a recommendation to any person to acquire any securities. Any estimates and projections in this announcement were developed solely for our use at the time at which they were prepared and for limited purposes which may not meet the requirements or objectives of the recipient of this announcement. Nothing in this document should be considered to be a forecast of future profitability or financial position and none of the information in the document is or is intended to be a profit forecast or profit estimate. The financial statements included this announcement have not been subject to any review or audit process by our independent auditors and may be subject to change after a review or audit process. We are not providing advice (whether in relation to legal, tax or accounting issues or otherwise). You should receive legal, tax, accounting and any other necessary advice from your advisors in relation to the contents of this announcement.

This announcement has not been approved by any regulatory authority and does not represent financial statements within the meaning of applicable Swiss, Czech or other law.

[1] The United Kingdom segment was consolidated from February 2023 and Allwyn LS Group was consolidated from March