There is a new giant in the global gaming landscape: it emerges from the merger between Allwyn International Ag, a multinational lottery operator, and Opap Sa, the leading gambling company in Greece and Cyprus.
The two companies announce today that their respective boards of directors have approved the merger through a stock market transaction that creates a new entity with an equity value of 16 billion euros. The process will be facilitated by the execution of a transaction implementation agreement. The company will be renamed Allwyn and will remain listed on the main market of the Athens Stock Exchange, where it is expected to be one of the largest entities by market capitalization.
The transaction represents a fundamental milestone in the evolution of both companies. It will bring together two gaming operators, creating the second-largest publicly traded gaming entertainment company globally, with multiple, diversified, rapidly growing and market-leading positions in Europe, the United States and elsewhere in the world. The operation builds on the successful partnership between Opap and Allwyn, which dates back to 2013, when Kkcg, Allwyn’s controlling shareholder, first invested in Opap. Allwyn currently holds 51.78% of the Greek-Cypriot operator.
Allwyn boasts solid experience in both organic and inorganic growth through strategic and complementary acquisitions, and this new operation aims to safeguard Opap’s long-term value in a rapidly evolving gaming market context. It will also allow Opap’s public shareholders to benefit from the advantages of the combined company, including growth, scale, diversification, access to cutting-edge technologies and digitalization, and greater global brand recognition, while continuing to benefit from substantial and resilient returns. For Allwyn, the listing operation represents a natural step in its journey, unlocking access to equity capital markets for the growth of its global platform. This is a significant step in the company’s mission to become the world’s leading company in the gaming entertainment sector.
Allwyn intends to pursue additional listings on other leading international exchanges, such as those in London or New York.
