Allwyn Investor Conference Presentation Deck
Highly flexible cost base with majority of expenses linked to revenue
More than 90% operating expenses linked to revenue / discretionary in short to medium term
Split of operating expenses on a consolidated basis (PF LTM 30 September 2023)¹
30
Gaming taxes
Agents' commissions
Materials, consumables and
services
Marketing services
Personnel expenses
Other operating expenses
Variable/discretionary costs
1)
Pro forma for Camelot Acquisitions.
12%
11%
1
6%
7%
2%
I
I
I
1
I
I
1
1
1
I
I
I
I
I
I
I
I
62%
●
●
Substantial portion of cost base is variable
All/ majority of lottery and gaming related
taxes, agents' commissions and materials,
and consumables and services are directly
linked to revenues
Substantial portion of marketing expenses is
discretionary in the short to medium term
• Downside protection will improve further
after start of Fourth License in UK as part of
taxes are based on profit share
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