Deal values company at €16bn
The boards of Allwyn International and OPAP have approved the business combination of Allwyn and OPAP through an all-share transaction that values the resulting entity at an equity value of €16bn.
The combined company, which will be renamed Allwyn, will bring together two leading gaming operators, creating the second largest listed gaming entertainment company globally, with multiple diverse, fast-growing and market-leading positions across Europe, the United States and other international markets. The Transaction builds on the existing successful partnership between OPAP and Allwyn which goes back to 2013, when KKCG, the controlling shareholder of Allwyn, first invested in OPAP. Allwyn currently owns 51.78 per cent of OPAP.
For Allwyn, the Transaction represents the natural next milestone in its journey with a public market listing unlocking access to equity capital markets for future growth and elevating the profile of its global platform. It is a significant step in Allwyn’s mission to become the leading global gaming entertainment company.
Karel Komarek, Founder and Chair of Allwyn, and of KKCG Group AG (“KKCG”), the investment company behind Allwyn, said: “Today’s announcement redefines the sector, signalling the creation of the second largest listed gaming entertainment company globally. For investors, this is a unique opportunity to be part of a dynamic company that is shaping the future of entertainment. 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.”
Robert Chvatal, Allwyn CEO, said: “This transaction marks a further milestone in Allwyn’s successful journey. 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.”
Jan Karas, OPAP CEO, said: “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 existing relationship with Allwyn, driving innovation and additional growth opportunities.”
Pavel Mucha, OPAP CFO, said: “The tremendous financial characteristics of the combined business will continue to deliver substantial, consistent dividends to our shareholders, while also allowing investment in the business and additional value-accretive acquisitions to further accelerate growth.”
Following the completion of the Transaction, Robert Chvatal (current CEO of Allwyn) and Kenneth Morton (current CFO of Allwyn) will continue to lead the management team of the combined company as CEO and CFO, respectively. OPAP’s current management team led by Jan Karas as CEO and Pavel Mucha as CFO will continue to lead OPAP’s operations in Greece and Cyprus.
The combined company will be chaired by Karel Komarek and have an eight-person Board of Directors. This will include the six existing Allwyn directors (including Chair), two of whom are independent, as well as two newly appointed independent non-executive directors, resulting in the Board having 50% independent non-executive directors.
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Deal values company at €16bn The boards of Allwyn International and OPAP have approved the business combination of Allwyn and OPAP through an all-share transaction that values the resulting entity at an equity value of €16bn. The combined company, which will be renamed Allwyn, will bring together two leading gaming operators, creating the second largest…
The post Allwyn to take over OPAP, creating the second largest listed lottery and gaming operator in the world appeared first on G3 Newswire.