Allwyn released its preliminary financial report for the first quarter of 2026 today, delivering a quite impressive report card: Q1 total revenue increased by 8% year-over-year to **€2.39 billion**, and net income soared by 21% to €1.2 billion. However, a closer look reveals that the bulk of the increase in net income came from last year's acquisition of the American DFS operator PrizePicks—excluding this item, net income only increased by 3.5% year-over-year. According to the PASA official website, the core narrative of this financial report is very clear: digital channels and the consolidation of PrizePicks are the engines of growth, but the traditional lottery business faces challenges from a high base and adverse tax conditions.
Regional breakdown: Europe holds steady, North America leads decisively
Geographically, mainland Europe remains Allwyn's largest market, with Q1 total revenue growing by 7% to **€1.2 billion**, stabilizing the base. The UK saw a slight decline of 7% to €942 million, but during the same period, it contributed €718 million to taxes and public welfare, underscoring its social responsibility. The North American segment is the brightest star of the show—total revenue skyrocketed by **408%** to €305 million, with net income growing by 7% to €224 million, clearly reflecting the first-show effect after the consolidation of PrizePicks. This week, Allwyn also announced the appointment of former Virginia Lottery Executive Director Khalid Reede Jones as CEO of North America, indicating clear intentions for integration. The differences between regions essentially reflect the divergence between "traditional lottery vs digital growth".
Betano's standalone performance: Revenue of €788 million, up 27% year-over-year
A highlight of this financial report is the first separate breakdown of Betano's data. Allwyn acquired a 37% stake in the Betano brand under Kaizen Gaming through a merger with Greek lottery giant OPAP last October. Q1 Betano total revenue reached **€788 million**, up 27% year-over-year, and the brand now covers markets in Europe and Latin America. CEO Robert Chvátal highly praises Betano, noting its focus on execution during "periods of intense change". The company is also integrating several major acquisitions from last year—including the OPAP merger and PrizePicks—and establishing a cross-brand, multi-vertical digital business unit.
Headwinds: Austrian gambling tax increase and high base effect
Chvátal also acknowledged several headwinds faced this quarter: the increase in Austrian gambling taxes directly eroded profits; and the comparison period (Q1 2025) benefited from record jackpots in EuroMillions (Austria, UK) and Greek Tzoker, creating high base pressure. However, he emphasized the unique aspects of the Allwyn platform: "the resilience and cash flow generation capability of the lottery-led business, combined with digital channels, proprietary content, online sports betting, iGaming, and North American entertainment growth assets". The financial report also confirmed that the company was not affected by geopolitical developments in the Middle East and Iran, macro pressures, or international trade tariffs this quarter.
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This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
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