Allwyn completes OPAP merger
The merger creates one of the world’s largest publicly listed gambling groups.
Greece.- The Allwyn OPAP merger has completed, creating what Allwyn says is the world’s second largest publicly listed lottery operator, worth €16bn. The Czech Republic-based operator (formerly Sazka) has increased its stake in the Greek gambling operator from 51.78 to 78.5 per cent, with remaining OPAP shareholders to retain 21.5 per cent.
The deal, agreed in October, builds on a long-standing relationship. Allwyn’s parent company KKCG has held a major stake in the Greek operator since 2013. Allwyn will now be listed on the Athens Stock Exchange and will have a dominant foothold in the country even as it dropped its Novibet takeover ambitions amid monopoly concerns. OPAP runs the Greek national lottery alongside a broad betting and gaming portfolio
The move continues Allwyn’s diversification strategy, which began with its rebrand in 2022. The company has been expanding internationally and into other verticals. It now runs the UK National Lottery and has majority stakes in PrizePicks and Instant Win Gaming.
Allwyn believes the OPAP deal will deliver stronger geographic reach, wider product variety, enhanced digital and technology capabilities, a more resilient financial base, and a sharper focus on responsible gambling and contributions to good causes.
“This is a major strategic milestone for Allwyn, and we start our journey as a publicly listed global leader with a strengthened platform, enhanced financial flexibility and a world-class team,” said CEO Robert Chvátal.
“We are very confident that our leading market positions, high degree of diversification, and strong cash generation position us well to drive sustainable growth and continued value creation as we invest in innovation and future opportunities across our markets. I would like to thank our shareholders, employees and regulators for their support as we bring together two best‑in‑class organisations to create the second‑largest listed lottery and gaming operator globally.”
OPAP will hive down its business to new Greek subsidiaries and transfer its statutory seat to Luxembourg. KKCG will retain 78 per cent of voting rights, while Allwyn has announced plans to distribute €0.80 (£0.69) per share to investors.
Karel Komárek, founder and chair of both KKCG and Allwyn, commented: “Today, Allwyn moves into a new chapter – one that builds on the momentum that already characterises our business.
“Over the past 13 years, we’ve shown the significant and sustainable value we create for shareholders, for society, and through the experiences we deliver to players. That progress has been grounded in partnership, trust, and a genuine commitment to innovation. Allwyn has exceptional potential in the rapidly evolving world of consumer entertainment, and we have the strategic clarity, scale, capabilities and ambition to define the future of the industry.”
