The all-share agreement gives the new operator an $18.56 billion valuation.
The all-share agreement gives the new operator an $18.56 billion valuation. The new single operator is now seeking a listing in New York or London following the merger.Global lottery company Allwyn is absorbing Greek operator OPAP to create the second largest listed gaming entertainment business in the world.
The merger makes the lottery operator “well-positioned to capitalize on key industry trends.”The majority stakeholder in PrizePicks also plans to use this deal to expand its reach and exchange listings across Europe and the U.S. Announced on Monday, the two merging companies that have been long-time partners will carry the Allwyn name. The all-share agreement gives the new operator an $18.56 billion valuation, and makes Allwyn “well-positioned to capitalize on key industry trends,” the “For investors, this is a unique opportunity to be part of a dynamic company that is shaping the future of entertainment,” Allwyn founder, chair, and Czech billionaire Karel Komarek said in a statement. “The combined strength and scale of these multi-billion dollar businesses, massive customer base, and Allwyn's continued investment in technology and content, will accelerate innovation and fuel significant international growth. We're on a mission to build the world's leading global gaming entertainment company, and today's transaction takes us one step closer to that goal."The combined company will continue to be listed on the Athens Stock Exchange, where it’s one of the biggest companies on there. The new single operator is now seeking a listing in New York or London following the merger, the company said. Allwyn operates the U.K. National Lottery and Illinois and Michigan in the U.S. The lottery company is also set up in Austria, Italy, and the Czech Republic, while OPAP owns lotteries in Greece and Cyprus. “This transaction marks a further milestone in Allwyn's successful journey,” Allwyn CEO Robert Chvatal said. “Since being founded 13 years ago, we have grown substantially in terms of business performance, scale, and innovation. With this combination, we will be able to grow further, faster as we deploy Group-wide know-how, a unified brand and sponsorship strategy, and in-house technology and content."Komarek’s investment group, KKCG, will have 85% voting rights in the new company. Allwyn already had a 51.78% stake in OPAP following a partnership that began in 2013. Subject to regulatory and shareholder approvals, Allwyn shareholders will hold 78.5% of the new company’s stock, while the other 21.5% goes to the combined group. The transaction is expected to be complete by Q1 2026, and OPAP said that, independent of the transaction, the Greek operator will assume the Allwyn brand as part of a strategic decision in the same quarter. “This exciting combination creates a leading gaming company with strong Greek heritage, as well as a continued presence and listing in Greece,” OPAP CEO Jan Karas said. “I'm excited about the opportunity for OPAP to deepen our strong existing relationship with Allwyn, driving innovation and additional growth opportunities." Allwyn reached €1.9 billion in the latest fiscal year results. The company said it expects an “enhanced growth profile with double-digit projected EBITDA CAGR from 2024 to 2026, substantially higher than OPAP on a standalone basis.” Brad has been covering sports betting and iGaming industry news for Covers since 2023. He writes about a wide range of topics, including sportsbook insights, proposed legislation, regulator decision-making, state revenue reports, and online sports betting launches. Brad reported heavily on North Carolina’s legal push for and creation of online sportsbooks, appearing on numerous Tar Heel State radio and TV news shows for his insights. Before joining Covers, Brad spent over 15 years as a reporter and editor, covering college sports for newspapers and websites while also hosting a radio show for seven years.If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
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