Allwyn AG, formed from the combination of Allwyn International AG and OPAP S.A., announced preliminary unaudited results for Q1 2026, reporting net revenue of €1.204 billion, a 21% increase compared to the same quarter in 2025. Total revenue rose 8% to €2.39 billion, driven by both organic growth and contributions from its newly acquired US daily fantasy sports operator, PrizePicks. When excluding PrizePicks, net revenue grew 3.5%, despite higher gaming taxes in Austria and the absence of prior-year jackpot windfalls from EuroMillions and Greece’s Tzoker.

Continental Europe remained Allwyn’s largest market, generating €1.2 billion in total revenue, up 7% year-on-year. The UK saw a modest decline of 7% in total revenue to €942 million, although it contributed €718 million in taxes and good causes during the quarter, reflecting continued commitments to social programs and regulatory obligations. North America experienced the most pronounced growth, with total revenue up 408% to €305 million and net revenue rising to €224 million, driven by PrizePicks’ first-time consolidation and early digital expansion.

Strong Digital Channels and Betano Performance

Digital channels were a primary driver for Allwyn’s results. Online net gaming revenue jumped 68% to €540 million, now representing 48% of total net gaming revenue, a 12-percentage-point increase from Q1 2025. iGaming led growth among product segments, with net revenue rising 29% to €147 million. Sports betting revenue increased 13% to €159 million, and video lottery terminals and casinos contributed €146 million, up 11% year-on-year. Lottery revenue declined by 5% to €487 million due to the absence of major jackpots that had boosted prior-year results.

Betano, in which Allwyn holds a 37% stake through the OPAP merger, provided strong contributions. Q1 total revenue for Betano reached €788 million, up 27% from the previous year. Income from Allwyn’s stake increased 43% to €60 million. Operating across Europe and Latin America, Betano continues to provide recurring revenue streams that complement Allwyn’s diversified portfolio and strengthen the group’s overall growth.

Profitability, Leadership, and Strategic Outlook

Adjusted EBITDA increased 24% to €443 million, with the margin improving to 36.8% from 36.1% in Q1 2025. Operating EBITDA grew 11% to €336 million. North American adjusted EBITDA rose to €75 million, up from €12 million, reflecting the impact of PrizePicks’ inclusion. Adjusted profit after tax increased 18% to €213 million, demonstrating the combined effect of organic growth and strategic acquisitions.

Allwyn reaffirmed its full-year 2026 outlook, forecasting mid-to-high 20% net revenue growth and an adjusted EBITDA margin of 37%. The company also announced a €150 million share buyback programme, alongside a minimum €1 per share dividend. Khalid Reede Jones, former Virginia Lottery chief, was appointed CEO of Allwyn North America to lead the integration and growth of PrizePicks and digital operations in the US market.

CEO Robert Chvatal described the quarter as transformative, noting that PrizePicks’ integration, Betano’s contributions, and the completion of the UK technology transformation have strengthened the group. He emphasized that Allwyn now combines lottery-led operations with digital, iGaming, sports betting, and North American entertainment. The company remains focused on enhancing player experience, expanding across multiple regions, and leveraging its platform for long-term profitability and shareholder value.

Chvatal added that strategic investments in technology, product innovation, and digital channels have positioned Allwyn to continue delivering strong growth, supporting sustainable cash generation, and maintaining disciplined capital allocation while upholding responsible gaming standards.