Allwyn’s Q2 revenue jumps 27% as PrizePicks kicks in

• Net revenue climbed 27% year-on-year to €1.25bn for the quarter to 30 June.
• Adjusted EBITDA rose 29% to €458m, with the margin improving to 36.8%.
• Allwyn reaffirmed its 2026 guidance of mid-to-high 20% net revenue growth and a 37% margin.

Allwyn has posted a 27% year-on-year rise in net revenue to €1.25bn for the quarter ending 30 June, according to preliminary, unaudited financial results published today on 27 August.

Adjusted EBITDA climbed 29% to €458m, with the margin improving to 36.8% from 36.3% a year earlier, supported by the consolidation of PrizePicks and offset in part by higher gaming taxes in Austria.

Growth beneath the surface

Stripping out the PrizePicks contribution and adjusting for the Austrian tax rise, net revenue still grew five percent year-on-year. This came against a strong comparative quarter, when several markets had benefited from favourable jackpot cycles.

The group reaffirmed its full-year 2026 outlook, targeting net revenue growth in the mid-to-high 20% range and an adjusted EBITDA margin of around 37%. Allwyn has also confirmed an interim distribution of €0.20 per share, alongside an ongoing share buyback programme of up to €150m.

Robert Chvátal, Chief Executive Officer at Allwyn, said:

“After a very positive Q1, I’m pleased to announce further strong performance in the second quarter. This reflects the strength of our strategy and our success in executing it, as demonstrated by sustained momentum in Continental Europe and the contribution from PrizePicks.”

UK turns a corner

EBITDA growth was helped by improved profitability in the United Kingdom, following completion of the National Lottery’s technology transformation. Sports betting and igaming revenue also rose, with the 2026 FIFA World Cup lifting betting volumes industry-wide, a trend also reflected in record World Cup stakes reported elsewhere in Europe.

Allwyn has launched several product updates since the first quarter, including new or upgraded draw-based lottery games in Austria, the Czech Republic and the UK. Shortly after the quarter closed, on 21 July, the group became the first operator outside the US to offer Powerball.

The results follow Allwyn’s completion of its OPAP merger earlier this year, and come months after the group moved to reassure investors over a post-merger share price drop.

Doubling down on America

North America was Allwyn’s fastest-growing segment in Q2 2026, with net revenue reaching €294m and adjusted EBITDA climbing to €104m from just €9m a year earlier, a jump the group attributed mainly to PrizePicks’ consolidation.

Players can now combine PlayerPicks with a TeamPick within a single line-up, folding prediction markets into the daily fantasy sports product.

Chvátal added:

“In addition, in North America we continue to rapidly develop PrizePicks’ offering, enabling players to combine PlayerPicks with a TeamPick within a single line-up, integrating prediction markets alongside DFS and helping to deepen engagement and expand the ways in which customers can play.”

The scale of the PrizePicks contribution, still less than a year into ownership, means comparisons get structurally tougher from Q2 2027, once a full year of consolidation sits in both the reporting quarter and its comparator.

Whether the UK’s improved margin and Continental Europe’s underlying growth can carry results once that effect fades is the question for the next few quarters.