Allwyn International has reported steady growth in the second quarter of 2025, releasing preliminary unaudited results that show a 6% year-on-year increase in revenue and improved adjusted EBITDA.

The lottery and gaming operator posted total revenue of €2.27bn ($2.6bn) for the period, compared with €2.14bn in Q2 2024. Gross gaming revenue also rose 6% to €2.19bn, while net revenue matched that trajectory. Adjusted EBITDA increased to €362m, also up 6%, representing a margin of 36.4%. Adjusted free cash flow reached €300m, marking a 6% gain from the previous year.

What Drove Allwyn’s Q2 Growth

The UK market provided the largest boost, with strong contributions from EuroMillions and other numerical lotteries. The segment benefited from player engagement around high jackpot cycles, alongside momentum from Online Instant Lotteries where new game launches fueled activity.

Allwyn also advanced its systems infrastructure, activating more than 30 projects following the quarter. These included a new central lottery system and upgrades to retail terminals across its European network. According to the company, these investments in technology and retail infrastructure will underpin long-term product development and operational resilience.

The company has already moved to strengthen its balance sheet beyond the quarter. Allwyn finalised a €2.15bn Senior Facilities Agreement and issued €600m of senior secured notes.

How These Results Compare With Previous Years

The latest results follow on from a 12% year-on-year revenue increase in FY 2024, driven by growth in Austria, Greece, and Cyprus. The group positions itself as one of Europe’s leading lottery and gaming companies, with a strategy combining digital expansion with physical retail channels investments.

In Q2 2025, the revenue gains improved performance in the UK and sustained strength across Allwyn’s existing European markets. Management highlighted that growth in the digital channel is becoming an increasingly important contributor, particularly as players seek greater flexibility and choice in how they participate.

What the CEO Said About Performance

Robert Chvátal, Allwyn CEO, welcomed the results as evidence of the company’s consistent execution of its growth strategy. “I am very pleased to report another quarter of strong financial performance following our strong first quarter, reflecting continued successful execution of our growth strategies,” he said.

“This excellent performance reflected our focus on growth in the digital channel, alongside the dedication of our teams across markets to enhance the customer proposition and the player experience. As always, we delivered this growth while maintaining our commitment to player safety and upholding our responsibilities to all stakeholders.”

What to Expect for the Rest of 2025

With revenue, cash flow, and debt metrics all holding steady, Allwyn enters the second half of the year on firm footing. Investments in digital and retail infrastructure will continue, providing the foundation for future product launches and customer engagement initiatives. Management has made clear that it sees opportunities in mature and developing markets.

Analysts expect that a balanced strategy combining operational discipline with innovation could help Allwyn maintain momentum. The company’s ability to deliver consistent results while managing costs and stakeholder responsibilities will likely remain central to its outlook for the remainder of 2025.