Q2: Allwyn revenue up 27% to €1.25bn; adjusted EBITDA up 29%

Allwyn reported Q2 net revenue of €1.25bn and adjusted EBITDA of €458m for the second quarter of 2026, while reaffirming its full-year guidance.

The results were supported by continued growth across Continental Europe, digital expansion and the contribution from PrizePicks. Excluding the acquisition of PrizePicks and the impact of higher gaming taxes in Austria, underlying net revenue increased 5% year-on-year while adjusted EBITDA rose 9%. Allwyn maintained its 2026 outlook, expecting mid-to-high 20% net revenue growth and an adjusted EBITDA margin of around 37%. 

Online performance remained a key growth driver during the quarter, with online net gaming revenue increasing 81% year-on-year to €596m, representing 52% of total net gaming revenue. Sports betting also benefited from increased activity surrounding the 2026 FIFA World Cup, while iGaming continued to record strong growth across the group's markets.

In North America, PrizePicks continued to expand its customer base despite increased marketing investment during the World Cup. The company said the strategy resulted in record second-quarter player acquisition and left the platform with an active player base 18% larger than a year earlier heading into the NFL season.

Meanwhile, the UK business returned to EBITDA growth following the completion of The National Lottery's technology transformation earlier this year.

Alongside the results, Allwyn announced an interim distribution of €0.20 per share and said it had repurchased €89m of shares under its €150m buyback programme as of 21 August. After the reporting period, the company also agreed to acquire a controlling 64.53% stake in German lottery reseller Next Lotto, subject to customary regulatory approvals.

Earlier this month, Allwyn also announced a leadership change in its UK business, appointing Phil Walker as Interim CEO of Allwyn UK following the departure of Andria Vidler by mutual agreement with the board. Vidler, who led the operator through the UK National Lottery transition and major technology upgrades, will remain in an advisory role until the end of October to support the handover. Walker, whose previous executive experience includes senior roles at Ladbrokes Coral, William Hill and 888, has been tasked with leading the next phase of the operator's modernization efforts.