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Allwyn International Reports €958.6 Million in GGR for Third Quarter
Allwyn International has announced its preliminary unaudited financial results for the three and nine months ended 30 September 2022 and provided an update on recent developments and current trading.
Allwyn reported €958.6m ($994.3m) in gross gaming revenue (GGR) for Q3 2022, up 11% year-on-year. The company also reported adjusted EBITDA of €319.9m, up 10% from the prior-year period. Allwyn’s adjusted EBITDA margin is at 54% as of its Q3 report, 1% down year-on-year.
Continued strong growth in online sales online channel contributed 46% of gross gaming revenue in the Czech Republic, compared with 39% in Q3 2021.
The third quarter of 2022 also saw Allwyn’s stock price rise after it was formally awarded the Fourth UK National Lottery licence, starting in February 2024.
In Q4, the company reached an agreement to acquire Camelot UK Lotteries Limited, the current operator of the UK National Lottery.
Robert Chvatal, CEO of Allwyn, said: “This quarter has seen Allwyn deliver yet another set of strong financial results. We have also continued to deliver on our inorganic growth strategies, with some exciting developments in the UK in particular. Our consolidated Gross gaming revenue increased by 11% year-on-year in the third quarter and consolidated Adjusted EBITDA increased by 10%, driven entirely by organic factors – demonstrating once again the resilience of demand for our products and of our business model.
“We also continue to deliver strong margins and generate robust free cashflows, reflecting our favourable cost structure and focus on cost and capital efficiency. The third quarter and start of the fourth quarter have also seen two milestones in the UK, which is set to become the sixth market where we operate lotteries. In September, Allwyn was formally awarded the Fourth Licence to operate the UK National Lottery for a decade starting in February 2024, following the Gambling Commission’s earlier announcement that we were the Preferred Applicant, and on 19 November we announced that we had reached agreement to acquire Camelot UK Lotteries Limited, the current operator of the National Lottery.”
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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