Allwyn Worldwide and the Greek gaming firm OPAP S.A. have determined to merge in an all-share deal that offers the mixed enterprise an fairness worth of €16 billion ($19 billion). The 2 corporations mentioned the brand new group will probably be referred to as Allwyn.
In line with the joint announcement, the merger will create “the second largest listed gaming leisure firm globally,” with main positions throughout Europe, the US and different worldwide markets. Allwyn, the gaming operator group now answerable for the UK’s National Lottery, presently owns 51.78% of OPAP.
Allwyn and OPAP merger turns into the world’s second largest listed lottery
Karel Komarek, founder and chair of Allwyn and its mum or dad firm KKCG Group AG, mentioned, “In the present day’s announcement redefines the sector, signalling the creation of the second largest listed gaming leisure firm globally. For buyers, this can be a distinctive alternative to be a part of a dynamic firm that’s shaping the way forward for leisure.”
“We’re on a mission to construct the world’s main world gaming leisure firm, and immediately’s transaction takes us one step nearer to that aim.” – Karel Komarek, Allwyn founder and chair
He added, “The mixed energy and scale of those multi-billion greenback companies, huge buyer base and Allwyn’s continued funding in know-how and content material, will speed up innovation and gas important worldwide development.”
Allwyn Chief Government Robert Chvatal mentioned the deal marked “an additional milestone in Allwyn’s profitable journey.” He continued, “Since being based 13 years in the past, we have now grown substantially in terms of business performance, scale and innovation. With this mixture, we can develop additional, quicker as we deploy Group-wide know-how, a unified model and sponsorship technique, and in-house know-how and content material.”
OPAP CEO Jan Karas described the merger as “an thrilling mixture” that “creates a number one gaming firm with robust Greek heritage, in addition to a continued presence and itemizing in Greece.”
Whereas OPAP CFO Pavel Mucha mentioned the merger would preserve robust monetary efficiency, stating, “The great monetary traits of the mixed enterprise will proceed to ship substantial, constant dividends to our shareholders, whereas additionally permitting funding within the enterprise and extra value-accretive acquisitions to additional speed up development.”
The mixed firm will keep listed on the Athens Inventory Change, the place it’s anticipated to develop into one of many largest corporations by market worth. Allwyn additionally plans to hunt one other main worldwide itemizing, doubtlessly in London or New York, as soon as the merger is full.
OPAP individually introduced that it’s going to rebrand its consumer-facing enterprise to Allwyn beginning within the first quarter of 2026. The corporate mentioned the brand new title is supposed to strengthen its reference to prospects and entice youthful audiences.
As a part of the merger, OPAP will switch its operations to new Greek subsidiaries and transfer its official headquarters to Luxembourg. Other than its current OPAP stake, Allwyn will add its property and liabilities to the Luxembourg-based firm in alternate for newly issued shares. The merged firm will then transfer its headquarters to Switzerland, the place Allwyn is presently primarily based.
The deal values Allwyn’s contributed property at €8.97 billion ($10 billion). In return, Allwyn will obtain €8.81 billion in new unusual voting shares and €161 million ($187 million) in most well-liked voting shares. As soon as the merger is accomplished, Allwyn is predicted to personal about 78.5% of the brand new firm, whereas OPAP’s public shareholders will maintain roughly 21.5%.
KKCG, which owns 95.73% of Allwyn, is predicted to manage about 85% of the whole voting rights within the merged entity.
OPAP’s board has obtained equity opinions from Morgan Stanley and Grant Thornton to assist the transaction. The merger nonetheless wants shareholder approval, with a common assembly anticipated in late 2025 or early 2026.
Featured picture: Allwyn Worldwide / OPAP SA
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