Allwyn International and OPAP announced today they have entered into a transaction agreement that will create a new entity with an equity value of €16bn.
The transaction – which will see the new combined company renamed to Allwyn – marks a major milestone in the evolution of both businesses and will result in the formation of what will be the second-largest listed gaming entertainment company globally.
Building on the existing partnership between the two companies – which goes back to 2013 when KKCG, the controlling investor of Allywn, first invested in OPAP – the business combination will secure a public market listing for the new entity, unlocking access to equity capital markets to help drive growth.
The agreement will allow the newly merged entity to share ownership of technology, proprietary content and AI capabilities, aiming to reduce dependency on third parties and positioning it to capitalise on any upcoming key market trends.
Following the completion of the transaction, the combined company will remain listed on the main market of the Athens Stock Exchange, though Allwyn has already announced its intentions to pursue an additional listing on another leading international exchange such as London or New York after closing.
Karel Komarek, founder and chair of Allwyn and KKCG Group AG, the investment company behind Allwyn, said: “Today’s announcement redefines the sector, signalling the creation of the second-largest listed gaming entertainment company globally.
“The combined strength and scale of these multi-billion-dollar businesses, massive customer base and Allywyn’s continued investment in technology and content will accelerate innovation and fuel significant international growth.”
OPAP CEO, Jan Karas, added: “This exciting combination creates a leading gaming company with strong Greek heritage, as well as a continued presence and listing in Greece. I’m excited about the opportunity for OPAP to deepen our strong relationship with Allwyn, driving innovation and additional growth opportunities.”
The agreement comes weeks after Allwyn acquired a 62.3% stake in US DFS operator PrizePicks for an initial cash consideration of $1.6bn.
The post Allwyn and OPAP to combine to form €16bn lottery and gaming operator powerhouse first appeared on EGR Intel.
European gaming giants confirm all-share transaction that will create world’s second-largest listed gaming entertainment company
The post Allwyn and OPAP to combine to form €16bn lottery and gaming operator powerhouse first appeared on EGR Intel.