Allwyn

2025 Annual Report and Accounts

Building a leading global gaming entertainment company


The lottery and gaming sector is transforming rapidly, driven by technological change, new content formats, and the ever-increasing expectations of players and regulators. In this environment, scale, diversification and operational excellence matter more than ever. As a result of the continued successful execution of our strategy, Allwyn enters 2026 as a strong and agile business, equipped and positioned to lead the next phase of our industry’s evolution.

In a landmark transaction for Allwyn and for the global gaming sector, Allwyn agreed a combination with OPAP, its publicly-listed subsidiary operating in Greece and Cyprus. This completed in March 2026, resulting in Allwyn being listed on the Athens stock exchange and creating the second largest listed lottery and gaming operator globally.

"2025 was a landmark year, defined by major strategic milestones and operational progress as we advance towards our vision of being the leading global gaming entertainment company."

Karel Komarek

Chair of the Board

2025 Financial highlights

Net Revenue
4.1bn
Net Revenue
New Revenue Growth
+4%
New Revenue Growth
Online NGR share
37%
Online NGR share
Adjusted EBITDA
1.6bn
Adjusted EBITDA
Adjusted EBITDA margin of Net Revenue
39%
Adjusted EBITDA margin of Net Revenue

"2025 was a pivotal year. We delivered on all dimensions of our strategy and agreed two transformative transactions – further strengthening our positioning for an exciting future as a listed company."

Robert Chvatal

Chief Executive Officer

"Another year of good financial performance alongside significant strategic progress – reflected in strong support from capital markets as we start our journey as a listed company."

Kenneth Morton

Chief Financial Officer

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Allwyn is a growing business operating in a global industry that has growth opportunities at every turn.