"We are disappointed with Monday’s result but all of us are excited now for the weekend and the chance to put things right with a good result."
Balotelli’s arrival is likely to complete Liverpool’s summer recruitment programme as last season’s Barclays Premier League runners-up regroup in hope of another title tilt following the loss of talisman Luis Suarez.
The prolific Suarez undoubtedly left a void but the squad now has greater depth as a result of the signings of Lazar Markovic, Alberto Moreno, Adam Lallana, Rickie Lambert, Dejan Lovren, Emre Can and loanee Javier Manquillo.
Wales international Allen said: "Credit to the club – they have worked really hard this summer to bring in players and strengthen us after a positive season. It shows our ambition to take that step forward."
There are fears Balotelli, given his past problems with both Milan clubs and Manchester City, could upset morale in the dressing room.
It also remains to be seen how striker Daniel Sturridge responds to his addition but Allen is confident the England man can reprise the formidable partnership he formed with Suarez.
He said: "I am sure he is as excited as anyone else. Top players they love playing with other top players, I think it brings the best out in people.
"It is great to have competition throughout the squad. I think it really spurs people on to improve and be at their best."