Allwyn Announces Historic Merger with OPAP, Forming Gaming’s Second-Largest Company
Allwyn International has revealed a major merger with Greece’s premier gaming firm, OPAP. The unified company will be known as Allwyn and is set to become the world’s second-largest publicly traded lottery and gaming enterprise.
The Formation of a Gaming Industry Giant
This merger is structured as an all-share deal, valuing the new entity at approximately EUR 16 billion. The company will be based in Switzerland and maintain its listing on the Athens Stock Exchange, positioning it among the largest corporations by market capitalization in the region. There are also plans to pursue additional stock exchange listings in the future.
This combination follows over ten years of a successful partnership, during which Allwyn held a 51.78% controlling interest in OPAP. The merger is expected to secure long-term value for OPAP and offer shareholders numerous advantages, including enhanced growth prospects, greater scale, diversification, technological advancement, digital transformation, and increased global brand awareness.
Allwyn describes the agreement as a natural progression in its journey and a significant step toward establishing itself as the leading global gaming entertainment company.
Stable Leadership Post-Merger
The leadership team of the merged company will largely remain unchanged. Robert Chvatal, Allwyn’s current CEO, will continue in his role alongside CFO Kenneth Morton. Meanwhile, OPAP’s leadership will keep managing operations in Greece and Cyprus.
The merged company’s board will consist of eight directors, including six from Allwyn — among them chairperson and billionaire Karel Komarek — and two independent non-executive directors, ensuring half the board comprises independent members. After completion, Allwyn is expected to hold about 78.5% ownership, with OPAP shareholders owning the remaining 21.5%. KKCG, Komarek’s group, will likely control 85% of voting rights.
The merger awaits shareholder approval, with the decisive meeting scheduled for late 2025 or early 2026.
A Deal Set to Transform the Gaming Landscape
Karel Komarek, Allwyn’s founder and chairman, highlighted that this merger will reshape the gaming sector by combining significant scale, a vast customer base, and ongoing investment in innovation and content development. He emphasized the mission to create a top global gaming entertainment company and said this step brings them closer to that ambition.
Robert Chvatal, Allwyn’s CEO, described the merger as a landmark moment in the company’s growth trajectory, enhancing its capabilities and reach.
Jan Karas, OPAP’s CEO, expressed enthusiasm about forming a leading gaming company that honors its Greek roots and is excited about the partnership’s future.
Pavel Mucha, OPAP’s CFO, noted that shareholders can expect substantial and consistent dividends from the merged business.
Further details about dividend policies and capital management for the combined company are available in Allwyn’s official communications.
