Allwyn Investor Update
Simplified business model by geography
Key P&L drivers
€
A
B
D
F
E
Amounts
Staked
33
Players
Winnings
A-B=C Gross Gaming Revenue (GGR)
Lottery
Tax
Costs
с
●
=G
●
Amount of wagers placed by customers
●
Winners' pay-outs
Calculated as tax base (usually GRR) multiplied by rate; varies
based on type of game and country
Net Gaming Revenue (NGR)
Opex
SG&A
EBITDA
●
●
●
Agent commission (variable, calculated as a %
of amount staked / NGR)
IT costs from gaming suppliers like Intralot / IGT
/ Playtech, etc. (partially fixed, partially linked to
GGR or NGR)
Other expenses include rental, content fees
and other expense
Personnel expenses
Marketing expenses (flexible in medium term)
A
B
Commission
A
Amounts
Staked
D
●
Costs
●
Amount of wagers placed by customers
Percentage of amount staked
BEC Revenues from contracts with customers
Opex
SG&A
DEG EBITDA
●
●
●
IT costs
Other expenses
Personnel expenses
Marketing expenses
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