Allwyn Q2 Revenue Increases 27 Percent Despite Lottery Segment Decline
TL;DR — Allwyn posted Q2 group revenue of €1.2bn, up 27% year-over-year, as sports betting, iGaming and DFS gains offset a 2% lottery revenue drop to €498m. UK EBITDA rose sharply to €23m while continental Europe showed mixed results from tax changes. The operator’s diversification via PrizePicks and OPAP supports overall momentum.
SCCG Take — Results show non-lottery segments now materially counterbalance core lottery exposure. Operators should track whether DFS expansion into prediction markets sustains this offset through 2026.
Allwyn reported group-wide revenue of €1.2bn in Q2, a 27 percent increase from €979m the prior year. Lottery revenue fell 2 percent to €498m. Growth in sports betting, iGaming and daily fantasy sports more than offset the decline.
Sports betting revenue reached €145m, up 12 percent from €130m. iGaming revenue grew 24 percent to €147m from €119m. DFS operations added €231m with no year-earlier comparison, reflecting the majority stake in PrizePicks acquired in 2025.
UK and Continental Europe Performance
UK revenue rose 2 percent to €236m from €232m. Adjusted EBITDA climbed to €23m from €6m, a result that group leadership described as particularly positive. Allwyn UK has run the National Lottery since February 2024 after winning the tender in 2022.
Continental European revenue increased 4 percent to €731m from €701m. Adjusted EBITDA declined 3 percent to €293m from €303m, linked to higher gaming taxes in Austria. The operator maintains operations across Austria, Greece, Cyprus, the Czech Republic, Slovakia, Germany and Italy.
Group CEO Robert Chvatal said: “strong progress against our growth strategy, continuing to invest in our products and player experience and delivering major product enhancements across the group since the end of the first quarter”. The company expects full-year 2026 net revenue growth in the mid-to-high 20 percent range with an adjusted EBITDA margin of 37 percent.
Reporting: Lottery Daily
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Diversification is working: non-lottery segments now materially offset core lottery softness, changing Allwyn's risk profile and growth trajectory.
We've watched lottery operators struggle to grow beyond their legacy base for years. Allwyn's PrizePicks stake and iGaming traction prove you can pivot a lottery franchise into a multi-vertical platform. That shift matters for operators evaluating M&A targets and investors assessing pure-play lottery risk.
- Q2 group revenue up 27% to €1.2bn; lottery down 2%, but DFS, iGaming and sports betting more than offset
- UK EBITDA nearly quadrupled to €23m as National Lottery operations mature under new license
- PrizePicks contributed €231m DFS revenue with no prior-year comp; prediction market expansion ahead
SCCG angle: SCCG has partnered with lottery modernization providers, DFS platforms and prediction market entrants across regulated markets. If you're a legacy lottery operator looking to replicate this playbook — or a tech platform seeking lottery distribution — we connect you to the acquisition targets, compliance advisors and product integrators who made Allwyn's pivot possible.
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