Allwyn International (Czech Republic) reported strong growth in all markets and verticals in the first quarter, despite "weakening" consumer demand.
According to the company, gross revenue for online casinos in the Czech Republic was €869.3 million, up 65 percent from the same quarter in 2021. Net revenue was up 89 percent from the same period last year at €534.4 million.
In terms of verticals, lotteries continue to make the largest contribution, with revenues up 32 percent to €364.3 million. Instant lottery revenues rose 30 percent to 64.2 million euros. Sports betting revenues reached €162.3 million, up 76 percent, and gambling revenues rose 6 percent to €112.2 million. Revenue from lottery terminals and online casinos rose from €1.4 million to €166.3 million.
EBITDA in the first quarter more than doubled from the same quarter last year to €267.4 million. Profit for the quarter almost quadrupled to €128.9 million at online casinos Czech Republic.
Allwyn CEO Robert Schwatal said there were problems during the quarter related to the current macroeconomic situation, but they did not have a major impact on earnings.
In the last quarter, Allwyn was named the preferred bidder to run the UK National Lottery, but the Gambling Commission's decision to give the tender to the Czech company was challenged in court by incumbent operator Camelot and other losing bidders. The Gambling Commission is pushing for the transfer to take place.