OPAP and Allwyn merger Approved: Creating a Gaming Industry Giant
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Shareholders of greek gaming company OPAP overwhelmingly approved a merger with Allwyn, a lottery company owned by Karel Komárek’s KKCG group, at an extraordinary general meeting on Wednesday. This strategic move is set to create the second-largest listed company in the lottery and gaming industry globally, with an estimated valuation of €16 billion (approximately 388 billion Czech crowns) [1].
Transformational Merger for the Gaming Sector
The merger signifies a “transformational step” for both companies and the wider gaming industry, according to OPAP CEO Jan Karas [1]. The combined entity is expected to deliver robust financial performance and enhanced returns for shareholders.
Key Details of the Agreement
The agreement involves relocating OPAP’s headquarters to Luxembourg before merging with Allwyn. Karel Komárek waived the requirement to acquire preferred shares with enhanced voting rights to facilitate the merger and accommodate minority shareholders [1]. The transaction received preliminary approval from the Greek betting commission in december.
Ownership Structure and future Plans
Upon completion, Allwyn will hold a 78.5% economic interest in the newly formed company, while OPAP’s minority shareholders will own the remaining 21.5% [1]. The combined company will maintain a strong presence in Greece and continue to be listed on the Euronext Athens stock exchange.
Furthermore, plans are underway to list the company’s shares on another major capital market, likely in London or New York, leveraging Allwyn’s established position in the British National Lottery market [1].
Complex Transaction Structure
The merger will unfold in stages. OPAP will initially move its headquarters to Luxembourg. Allwyn will then contribute its assets, along with its existing OPAP shares, to this entity. The resulting company will ultimately be headquartered in Switzerland, where Allwyn is currently based [1].
Looking Ahead
Karel Komárek envisions the merged company as a global leader in the gaming and entertainment sector, emphasizing the combined strength, scale, and investment in technology and content [1]. Robert Chvátal,currently CEO of Allwyn,will lead the new company,with Kenneth Morton,also from Allwyn,serving as CFO.
Published: 2026/01/08 13:32:27