Allwyn CEO Robert Chvatal described the merger with OPAPduring today’s conference call with analysts, emphasizing that it positions the group as a diversified, large-scale, and multifaceted publicly traded company in the gaming industry.
In fact, Mr. Chvatal described the creation of Allwyn as a highly differentiated investment proposition for the market.
Highlighting some of the key features of the consolidated publicly traded company, Allwyn’s CEO noted that the group’s platform“consists of two complementary pillars. The first is a unique lottery portfolio, complemented by sports betting and online gaming operations in European markets. This is a high-quality portfolio of operations, with strong cash flows and a leading presence in the markets where it operates.
This specific pillar contributes approximately 70% of the group’s EBITDA , offering stable and predictable growth momentum while ensuring strong cash flows. For those familiar with OPAP, the business model is quite similar. However, the total addressable market targeted by the consolidated company is now significantly larger, and the growth prospects are clearly stronger.”
“The second pillar includes complementary assets with leading positions in their markets and high growth rates, such as PrizePicks and our stake in Betano. These are some of the most attractive and rapidly growing assets in the global gaming market, accounting for approximately 30% of the group’s EBITDA and significantly strengthening its growth profile. “At the same time, the group also has proprietary content,”he added.
Preliminary financial results for the first quarter of 2026
Mr. Chvatal stated that“the first quarter was a milestone for Allwyn, as significant progress was made in implementing the company’s strategy and important milestones were achieved in many markets. The company delivered strong performance in Continental Europe, with particularly positive results across all key business segments. At the same time, it completed its technological transformation in the United Kingdom and moved on to the next phase of its commercial activities in the country.”
It also noted that“the acquisition of PrizePicks was completed, while the company continued to make significant progress in capitalizing on opportunities arising in the prediction markets. At the same time, Betano maintained its particularly strong growth momentum for yet another quarter.”
According to him,“the successful implementation of the strategy underpinned another quarter of strong financial performance, with the company remaining on track to achieve the goals it has set for 2026.”
“We are confident in achieving our 2026 targets,”he emphasized.
It should be noted that based on the preliminary unaudited financial results for the first quarter announced by Allwyn, net revenue increased by 21% year-over-year to €1.204 billion. Adjusted EBITDA increased by 24%, or €85 million, to €443 million.
Capital expenditures (CAPEX) amounted to €52 million, compared to €58 million in the corresponding period last year, primarily due to the completion of the technological transformation of the National Lottery in the United Kingdom. After accounting for related proceeds, net CAPEX amounted to €51 million.
The new share buyback program
Furthermore, the group announced a share buyback program of up to €150 million, in addition to the minimum dividend of €1 per share.
The listed company’s net pre-tax profits stood at €285 million, up from €247 million last year, marking a 15% increase, while adjusted earnings attributable to shareholders amounted to €169 million, up from €159 million last year, a 6% increase. Earnings per share stood at €0.21.
When asked about the free float, Mr. Chvatal replied:“We know that the free float is a particularly important factor for our investors. At the same time, we recognize its importance both in terms of the rules governing the listing and trading of shares and participation in stock market indices.
These factors were fully taken into account when designing the share buyback program, and we believe that, given its relatively limited size, it had no material impact on these issues. Furthermore, although OPAP’s dispersion was higher on a percentage basis, the difference is significantly smaller when examined in terms of absolute number of shares and value.”
Finally, given that the transfer of the group’s registered office to Switzerland has been completed, Allwyn’s CEO clarified that“with regard to withholding tax, significant capital contribution reserves were created in the listed company as part of the transaction. These reserves can be distributed without Swiss withholding tax being imposed on such distributions.”