Allwyn Entertainment Projects Strong Q1 2024 Earnings Driven by UK Lottery and European Growth
Allwyn Entertainment forecasts substantial income expansion for the initial quarter of 2024, fueled by robust results across a majority of its territories. They anticipate earnings to reach between 2 billion and 2.05 billion euros. This represents a significant increase from the 1.59 billion generated during the corresponding period the previous year.
A key contributor is the incorporation of their UK activities, where they secured the national lottery concession and commenced operations in February. Internet gaming proceeds in Austria also played a pivotal role, while their lottery enterprise in the Czech Republic witnessed double-digit percentage gains.
Allwyn projects adjusted EBITDA to fall between 355 million and 365 million euros, an increase from 346.7 million in the first quarter of the prior year. They also intend to escalate investments, with capital outlays projected to surge by 83.7% year-on-year to 45 million euros.
Allwyn is prepared to make a strong start in 2024 and the following years.”
In related developments within the gaming and financial sectors, Entain has concluded its strategic evaluation, overseen by its in-house advisory group, CapCo.