Strong financial performance
Allwyn reported another year of financial growth in 2025, with its latest Annual Report showing net revenue of €4.1bn ($4.8bn), up 4% year-on-year, while adjusted EBITDA reached €1.6bn. The business also maintained a strong adjusted EBITDA margin of 39%, underlining continued profitability across its operations.
Digital channels remained a key driver of growth, with online net gaming revenue increasing by 11% during the year to account for 37% of total net gaming revenue. The company said momentum was supported by continued digital expansion and strong performances across lottery, iGaming and sports betting products.
Chair highlights strategic progress
Chair Karel Komarek described 2025 as a “landmark year” for Allwyn, pointing to several strategic developments that he believes have strengthened the company’s long-term position in the global gaming market.
Most notably, Komarek highlighted Allwyn’s combination with OPAP, which was completed in March 2026 after being agreed during 2025. The transaction resulted in Allwyn listing on the Athens Stock Exchange and created what the company describes as the world’s second-largest listed lottery and gaming operator.
Komarek said the move strengthens Allwyn’s platform for growth, enhances its ability to invest and innovate, and reinforces its position as a diversified multinational operator. He also noted that the enlarged group provides increased scale and improved access to equity capital markets.
Beyond corporate activity, Komarek praised the company’s continued investment in technology, including the completion of what he described as the largest technology upgrade in UK National Lottery history. More than 43,000 retail partners were migrated onto new systems, alongside the transfer of 18 million online players to a refreshed digital platform.
CEO talks execution and expansion
CEO Robert Chvatal said 2025 was a “pivotal year” in which Allwyn delivered across all areas of its strategy while striking two landmark transactions.
Alongside the OPAP combination, Chvatal highlighted Allwyn’s acquisition of a majority stake in US daily fantasy sports operator PrizePicks, which was completed in January 2026. He said the deal gives Allwyn entry into the fast-growing US online sports entertainment market and provides a strong platform for long-term growth due to PrizePicks’ profitability, technology and engaged customer base.
Chvatal also pointed to Allwyn’s successful renewal of lottery licences in Greece and Italy, as well as further M&A activity including increased ownership in Stoiximan and a minority investment in German lottery reseller Next Lotto.
He added that player safety remains central to Allwyn’s operations, with the launch of the Allwyn Player Protection Lab during 2025 intended to support research and innovation in safer gambling practices.
Product innovation and brand development
Allwyn continued to invest heavily in product development throughout 2025, launching several new offerings across its international markets. These included HotWins in Illinois, Lotto Blitz in Austria and multiple themed scratchcard and e-instant products in the UK.
The company also expanded its retail lottery footprint in Britain by integrating numerical lottery purchasing into self-checkouts at Aldi stores nationwide.
Meanwhile, Allwyn advanced its global branding strategy through partnerships with Formula 1 and the McLaren Formula 1 Team, initiatives designed to raise international awareness of the Allwyn name. This strategy has already led to rebrands in Greece, Cyprus and the Czech Republic.
Looking ahead, Chvatal said Allwyn is well positioned to capitalise on future opportunities as it continues executing its strategy with strengthened scale, broader market exposure and an increasingly diversified portfolio.
Allwyn contributed €4.9bn in gaming taxes and good cause funding during 2025, exceeding its annual net revenue total
