Allwyn – the lottery and gaming operator – released fresh numbers for the third quarter, giving a clearer view of how the business is tracking into year-end. The update comes with new strategic moves that could reshape the group’s global footprint. As part of the Allwyn Q3 2025 results, the company also outlined early impacts from its digital growth plans.

  • Net revenue reached EUR 1.023bn, up 5% year-on-year, and management highlighted steady demand across core lottery products. Adjusted EBITDA came in at EUR 374m, down 8% due to customer-friendly sports results and higher corporate costs. The Allwyn Q3 2025 results also show net debt sitting at 2.3x Adjusted EBITDA.

  • Total revenue for the period was EUR 2.202bn, a 4% lift from last year (EUR 2.110bn), supported by 5% growth in GGR. Operating EBITDA declined to EUR 301m from EUR 359m as margin pressure increased. Adjusted free cash flow landed at EUR 302m versus EUR 338m in Q3 2024.

  • The company agreed to acquire a majority stake in PrizePicks (see more details here), marking its entry into U.S. daily fantasy sports. Management described the operator as a strong performer with solid profitability and an established brand. “This transaction marks our entry into the fast-growing U.S. online sports entertainment market,” CEO Robert Chvátal said.

  • Allwyn also announced plans for an all-share combination with OPAP, aiming to form the world’s second-largest listed lottery and gaming operator (see more details here). The deal is positioned as the next step in a relationship dating back to 2013. OPAP shareholders would gain access to Allwyn’s broader platform, scale and digital capabilities.

  • The group has started rolling out the Allwyn brand in the Czech Republic and Greece as part of a unified consumer-facing strategy. The move is intended to streamline marketing and reach wider audiences in existing and future markets. Allwyn also completed syndication of a USD 1.5bn (ca. EUR 1.3 bn) financing package tied to the PrizePicks acquisition, including a USD 1bn (ca. EUR 0.86bn) term loan B.

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