Allwyn, the European gaming operator that took over the UK National Lottery in 2024, has reported mixed financial results for the first quarter of 2026.
The company recorded overall revenue growth of around a fifth, reaching 1.2 billion euros, while earnings before tax rose by a quarter to 443 million euros.
However, UK performance dragged on the broader results, with earnings in Britain falling 56 per cent to just 4 million euros during the period.
Gaming revenues in the UK dropped seven per cent to 942 million euros, marking a notable slowdown for the lottery operator’s home market.
Allwyn attributed part of the decline to a high comparative base from the same period last year, which had featured a record EuroMillions jackpot.
Short-term disruptions caused by upgrading the lottery’s digital platforms were also cited as a factor weighing on UK performance in the quarter.
Despite the weaker figures, Allwyn said the results “mark an important inflection point in the financial profile of the Business,” signalling confidence in its longer-term trajectory.
Much of that optimism stems from the completion of a 450 million pound technology overhaul of the National Lottery, which was finished during the first quarter of this year.
Allwyn highlighted the successful launch of a refreshed National Lottery website and mobile apps, alongside the transfer of 18 million player accounts onto the new digital platforms.
The company also announced the introduction of Powerball, described as the world’s largest jackpot game, into the UK market, offering players more frequent jackpots and more chances to win.
A new Lotto format is set to debut on June 7 across UK operations, which Allwyn has billed as the biggest shake-up to the game since its launch in 1994.
Lotto said the new format will be “twice as exciting,” with players receiving two chances to win the jackpot for every two pound ticket purchased.
In the United States, Allwyn has also benefitted from its recent majority acquisition of Prizepicks, the fantasy Sport operator, broadening its presence in the North American market.
Chief executive Robert Chvatal said: “We have high conviction in our future growth, cash generation and shareholder value creation, and have today launched a 150 million euro share buyback programme, underscoring our commitment to shareholder returns as a key element of our capital allocation framework.”