Allwyn SPAC Presentation Deck
Allwyn compares favorably to primary lottery peers
Leading earnings growth coupled with highest cash conversion among lottery comparables
Geographic presence
(# countries of
operation)
34
19A-22E NGR
CAGR (%)
2022E Adj. EBITDA
margin (%)
19A-22E Adj.
EBITDA CAGR (%)
2022E Cash
conversion5 (%)
Total addressable
market
1)
2)
3)
4)
5)
✔
✔
✔
✔
✔
✔
Source: Company information, Capital IQ as of 7-Jan-22
Note: All financials calendarized to Dec-YE
allwyn
5
15.6%
47.9%
19.2%
95.0%
1
€16bn wagered
with >10% CAGR
growth projected
I
I
FDJ
1
4.7%
22.7%
8.1%
80.9%
€16bn 2020A wagered with
mid-single digit CAGR growth projected
Based on pro rata Allwyn financials sourced from management estimates (subject to material change)
Lottery and Keno segments only; historical values based on reported company financials; forecast values based on estimates for Tabcorp Lottery and Keno segment published by a single equity research broker on 14-Oct-21, sourced from Refinitiv
Refers to revenue instead of NGR, as NGR not applicable
Adj. EBITDA margin calculated with respect to revenue instead of NGR, as NGR not applicable
Defined as Adj. EBITDA - capex / Adj. EBITDA. For Tabcorp, represents all business segments, not just the Lottery and Keno segment
Tabcorp
Lottery
1
2.8%3
19.7%4
5.4%
80.3%5
2
~AU$9bn 2020A wagered with
mid-single digit CAGR projected
Superior performance
allwynView entire presentation