Allwyn International, a major player in the gaming industry, reported stable financial results for the third quarter of 2025, underscoring the company’s strategic advancements and optimism for future growth. The unaudited financial report released by the company highlights several key achievements and challenges faced during this period.
In the third quarter, Allwyn demonstrated a robust growth trajectory, with total revenue reaching EUR 2.2 billion ($2.6 billion), reflecting a 4% increase compared to the same period last year. This growth was predominantly driven by the company’s gaming operations, where Gross Gaming Revenue (GGR) soared to EUR 2.1 billion ($2.43 billion), marking a 5% rise year-on-year. Net revenue for the quarter also grew, reaching EUR 1 billion ($1.2 billion), a 5% improvement from Q3 2024.
However, the company experienced a slight dip in operating profitability. Operating EBITDA for the quarter fell to EUR 301 million ($348.7 million), a 16% decrease from the prior-year quarter. Adjusted EBITDA also saw a decline, moving from EUR 406 million in Q3 2024 to EUR 375 million ($434.5 million) in Q3 2025. The decrease in EBITDA figures can be attributed to a variety of factors, including particularly favorable sports betting outcomes for customers and increased corporate expenses.
By the end of the third quarter, Allwyn’s adjusted free cash flow stood at EUR 302 million ($349.9 million), reflecting an 11% decline from the previous year. Notably, these financial figures exclude contributions from Allwyn’s former casino operations in Germany, which were sold in July.
Amid these financial outcomes, Allwyn marked significant milestones, such as acquiring a majority stake in PrizePicks, which opens new avenues for the company in the North American market. Moreover, following the quarter’s conclusion, Allwyn announced a merger with OPAP, positioning the combined entity as the second-largest listed lottery and gaming operator globally.
Robert Chvatal, CEO of Allwyn, expressed satisfaction with the company’s financial performance and strategic initiatives. He acknowledged that, despite the setbacks and customer-friendly sports betting results from its Betano brand, the company managed to deliver solid profitability figures. Chvatal viewed the acquisitions of PrizePicks and the merger with OPAP as pivotal moves that would propel Allwyn into a new growth phase. Additionally, the rollout as a consumer-facing brand in the Czech Republic and Greece signifies an exciting new chapter for the company.
Reflecting on the progress made throughout the year, Chvatal remarked, “Our progress so far this year reinforces the strength of our proven strategy and, looking forward, we are well prepared to deliver the next phase of our growth story and further strategic progress.” This sentiment highlights the confidence and strategic foresight empowering Allwyn’s leadership team.
The report’s release coincides with Allwyn’s launch of a new holiday campaign in the UK, showcasing the company’s commitment to engaging with consumers and enhancing its market presence.
While Allwyn’s financial performance paints a picture of resilience and strategic success, it is important to consider the broader market context. The global gaming industry faces challenges such as regulatory changes, shifting consumer preferences, and technological advancements. These factors can influence the competitive landscape and require companies to continuously adapt and innovate.
From an alternative perspective, stakeholders may express caution regarding the potential risks associated with the rapid expansion and integration of new acquisitions like PrizePicks and OPAP. The complexities of merging operations, aligning corporate cultures, and managing regulatory compliance across different jurisdictions can pose significant challenges. Thus, while the strategic moves present growth opportunities, they also require careful navigation to ensure long-term success.
Ultimately, Allwyn’s Q3 financial report reflects a company that is both navigating and capitalizing on the evolving gaming landscape. With strategic alliances, geographic expansion, and a keen focus on consumer engagement, Allwyn appears well-positioned for future growth and profitability. However, maintaining a balance between aggressive expansion and effective risk management will be crucial as the company continues to chart its path in the dynamic gaming industry.
David Garato is a luminary in gaming journalism, renowned for peeling back the curtain on the gaming world with his witty and insightful commentary. A decade into weaving stories from the pixelated edges of indie games to the expansive universes of AAA titles, David’s work is a thrilling blend of analysis and adventure. When not writing, he’s live-streaming, sharing his gaming exploits with an engaged and growing audience. David doesn’t just write about games; he lives them, making him a trusted guide in the gaming community.
