Allwyn AG reported a 27% year-over-year increase in net revenue to €1.246 billion for the second quarter of 2026, driven by growth in iGaming and sports betting. The company’s adjusted EBITDA rose 29% to €458 million, expanding its margin by 50 basis points to 36.8% of net revenue. Total revenue reached €2.376 billion, up 6% from the prior year, while organic revenue growth excluding PrizePicks and one-off items stood at 5%.
Regional performance showed mixed results. Continental Europe net revenue grew 4% on a constant-currency basis to €731 million, while North America increased 6% to €294 million. The United Kingdom, facing headwinds, posted a 3% constant-currency gain to €236 million. Adjusted EBITDA in the UK improved by €17 million year-over-year to €23 million, though Continental Europe’s adjusted EBITDA declined 3% to €293 million.
The company highlighted contributions from its recent acquisitions. PrizePicks added €94 million to adjusted EBITDA, representing 26% of the total, following its consolidation in January 2026. Allwyn also secured a Futures Commission Merchant registration for PrizePicks in September 2025. Operating EBITDA increased 23% to €361 million, while adjusted EBITDA minus capital expenditure rose 43% year-over-year.
Cash outflows totaled approximately €1.6 billion in Q2 2026, primarily driven by the PrizePicks acquisition, Lottoltalia license payments, and shareholder distributions. Net debt to LTM adjusted EBITDA leverage stood at 3.5x, with weighted average debt maturity of 4.7 years. Capital expenditure for the quarter was €13 million, down from €18 million in Q1 2026, alongside transformation costs of €18 million.
Allwyn’s share buyback program, authorized at €150 million, had €89 million completed as of August 21, 2026, covering 6.5 million shares. The company plans an interim distribution of €0.20 per share in Q4 2026 and maintains a minimum dividend policy of €1.00 per share, having paid €0.80 per share in May 2026. Total capital returns announced for 2026 amount to €1.19 per share.
Long-term performance metrics reflected continued expansion. From 2019 through the last twelve months ending Q2 2026, Allwyn’s net revenue CAGR reached 21%, adjusted EBITDA CAGR was 19%, and adjusted EBITDA minus CAPEX CAGR stood at 18%. The company’s shares slipped 2.08% to $14.15 following the presentation, off a 52-week high of $20.92 and low of $11.66.
