New National Lottery operator Allwyn said it will not be able to pay out as much to good causes after sales fell and new game launches were delayed.
Allwyn, which is owned by the Czech entrepreneur Karel Komárek, bought previous National Lottery operator Camelot in February last year.
National Lottery sales in the UK fell 4% to €3.9 billion (£3.3 billion), while underlying earnings dropped 5% to €181.4 million.
One of the reasons it gave for the decline was “unusually unfavourable EuroMillions jackpot cycles”, with only 14 EuroMillions draws with a jackpot above €100 million, compared with 33 the year before.
Camelot was also blamed for its “limited product and channel developments” as its licence came to an end.
Allwyn said this year that its plans for new games have been delayed until 2025, with delays to the new games planned for this year hitting the amount of money it can pay out to good causes in the early part of its 10-year licence.
Allwyn won a three-way bidding war with media baron Richard Desmond and former owner Camelot, which had held the licence since 1994.
It had to fend off a legal challenge from Desmond after the licence was awarded.