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Allwyn Q2 Revenue Surges 27% to €1.25B as PrizePicks and Europe Drive Growth

By jili tutorial · August 31, 2026

Allwyn Q2 Revenue Surges 27% to €1.25B as PrizePicks and Europe Drive Growth

Strong Performance Across Core Markets

Allwyn reported a 27% increase in second-quarter net revenue, reaching €1.25 billion ($1.46 billion), driven by the acquisition of PrizePicks and sustained growth across its European lottery operations. The UK National Lottery operator saw revenue climb 27% in Q2 2026.

Group adjusted EBITDA rose 29% to €458 million ($533 million), improving margins by half a percentage point to 36.8%. The headline growth was significantly boosted by PrizePicks, the US daily fantasy sports operator in which Allwyn acquired a 62.3% majority stake for $1.6 billion in September 2025, with the acquisition consolidating in January.

CEO Highlights Momentum and Strategic Investments

CEO Robert Chvatal stated that the quarter reflected “sustained momentum in Continental Europe and the contribution from PrizePicks.” He added, “We also made strong progress against our growth strategy, continuing to invest in our products and player experience and delivering major product enhancements across the Group since the end of the first quarter.”

When excluding the PrizePicks integration and higher gaming taxes in Austria, underlying revenue grew 5% year-on-year. Allwyn is looking to build on this momentum through further mergers and acquisitions.

Chvátal confirmed that in July, Allwyn reached an agreement to increase its stake in German online lottery reseller Next Lotto from 42% to 65%, securing a controlling interest. The company also reaffirmed its full-year 2026 group guidance, targeting net revenue growth in the mid-to-high 20% range, excluding previously disclosed one-off items.

UK Profitability Improves Following Technology Overhaul

Continental Europe remained Allwyn’s largest segment, with net revenue rising 4% to €731 million ($851 million). Across the group, iGaming net revenue jumped 24%, while sports betting rose 12%, partly boosted by activity surrounding the 2026 FIFA World Cup. Lottery net revenue fell 2%, impacted by tough year-over-year comparisons against favorable 2025 jackpot cycles.

In the UK, National Lottery net revenue edged up 2% on a reported basis to €236 million ($274.7 million). However, total gross gaming revenue fell 16% to €914 million ($1.06 billion), affected by weaker EuroMillions roll-overs compared to the prior-year period.

UK adjusted EBITDA rose to €23 million ($26.8 million), up from €6 million ($6.9 million) a year earlier. Allwyn attributed the margin expansion to cost recoveries tied to its National Lottery transformation. Capital expenditure dropped 65% to €13 million ($15.1 million) following the completion of the core technology overhaul.

Despite the operational gains, Allwyn indicated that full-year UK net revenue growth would track “below the level previously anticipated,” after first-half UK net revenue rose just 2%.

New Lotto and Powerball Products Expand UK Offering

Allwyn rolled out key product updates following the completion of its UK technology overhaul. The revamped Lotto game debuted on June 10, featuring a new two-round payout structure. Allwyn reported that 56 players became millionaires over the following two months, up from 35 during the same period last year. Of those winners, 32 scored £1 million-plus prizes via the new second-round draw.

Powerball followed on July 21, making the UK the first market outside the US to offer the brand. Allwyn confirmed that nearly one million UK prizes had been awarded by late August, totaling more than £13.8 million ($18.7 million).

“This summer has marked the beginning of an exciting new chapter for The National Lottery, offering players more opportunities to win and more chances to dream big in the months ahead,” said Andy Carter, senior winners’ adviser at Allwyn.