Allwyn reports record Q2 2026 results driven by PrizePicks acquisition

The Allwyn Group looks back on a highly successful second quarter, marked by a strategic shift in product priorities. While the company is traditionally rooted in the lottery sector, sports betting and gaming products emerged as key growth drivers over the past months. A decisive factor in this development was the majority stake in the US-based daily fantasy sports provider PrizePicks, which gave Allwyn a massive revenue boost. The integration of this company allowed access to the dynamic North American market and compensated for weaknesses in other business areas.

The figures released for the second quarter highlight the robust health of the group, which is headquartered in Switzerland and listed on the Athens Euronext. Despite an increase in gross debt, partly due to the costs of new licenses and acquisitions, organic growth more than offset these financial burdens. Momentum in Continental Europe, Allwyn's historical core market, remains a vital pillar of the corporate strategy, even though new tax regimes impacted profitability there in the short term.

Numbers and facts

Group-wide revenue for Allwyn climbed by an impressive 27 percent to a total of 1.2 billion euros compared to the same quarter last year. In the previous year, this figure stood at 979 million euros. Adjusted EBITDA rose in parallel by 29 percent to 458 million euros. The growth in profit after tax was particularly strong, increasing by 35 percent to 239 million euros. A significant portion of this growth came from the new Daily Fantasy Sports (DFS) segment, which alone contributed 231 million euros to total revenue. This segment did not exist in Allwyn's portfolio during the prior-year period.

A look at the individual product lines shows a mixed picture. The traditional lottery business saw a 9 percent decline to 498 million euros. In contrast, iGaming grew by 24 percent to 147 million euros, and sports betting increased by 12 percent to 145 million euros. CEO Robert Chvatal commented positively on the development:

"The results reflect the strength of our strategy and our success in executing it. We also made strong progress against our growth strategy, continuing to invest in our products and player experience and delivering major product enhancements across the Group." - Robert Chvatal, CEO of Allwyn

Background

In Continental Europe, Allwyn generated the lion's share of revenue at 731 million euros, representing a 4 percent increase. However, adjusted EBITDA in this region fell slightly from 303 million euros to 293 million euros. The company cited a new tax regime in Austria as one of the reasons. Additionally, Allwyn invested heavily in Italy, where it secured a contract to operate the Italian lottery as part of a consortium in May last year. While this expansion in Italy and the associated fees weighed on the balance sheet, they are considered strategically sound for the long term.

Another focus is the United Kingdom, where revenue rose by 2 percent to 236 million euros. Allwyn is under close scrutiny there, as the company has pledged to double weekly returns to good causes to 60 million pounds by the end of its ten-year license tenure in 2034. Despite political debates regarding the societal impact of gambling, Allwyn managed to improve profitability in the UK through technological upgrades at the National Lottery. With the launch of Powerball, one of the world's largest jackpot games, the group hopes for further momentum there.

Why it matters for German players

Although Allwyn does not provide specific figures for the German market in this report, the group's development has indirect effects on the local landscape. Through its stake in the Kaizen Gaming Group and its Betano brand, Allwyn is already a significant player in the international sports betting market. For German customers, the stability of such large corporations often means greater security regarding payouts and better technical infrastructure. As Allwyn increasingly focuses on regulated markets, it can be assumed that future expansions will always align with national laws.

In Germany, the Gemeinsame Glücksspielbehörde der Länder (GGL) is responsible for oversight. Players should ensure they only use providers listed on the official whitelist. This guarantees compliance with the State Treaty on Gambling 2021, which includes a monthly deposit limit of 1,000 euros and a stake limit of 1 euro per spin for virtual slots. The connection to the LUGAS system also ensures effective player protection across different platforms.

What it means for GGL-licensed casinos

Allwyn's success in iGaming and digital channels demonstrates that innovation and player protection can go hand in hand. For GGL-licensed casinos in Germany, this trend is a signal that technological upgrades and portfolio expansion are essential to remain competitive. While Allwyn experiments internationally with products like Powerball or Daily Fantasy Sports, German operators remain bound by the strict requirements of the GlüStV 2021. Nevertheless, the Allwyn example shows that investments in user experience and legal, regulated offerings secure long-term profitability, which can serve as a model for the German market.