OPAP Shareholders Approve Merger with Allwyn

Shareholders Approve OPAP-Allwyn Merger

OPAP recently hosted an Extraordinary General Meeting (EGM) where shareholders voted in favor of the proposed merger with Allwyn. The approval represents a significant step forward, although the merger is still contingent on fulfilling additional conditions.

Building a Leading European Lottery and Gaming Company

Last October, the European lottery giant Allwyn announced its intention to merge with Greek gaming leader OPAP to create a more powerful combined company. Once finalized, this merger will establish the new entity as the world’s second-largest publicly traded lottery and gaming business.

The combined company, which will continue operating under the Allwyn name, is estimated to be valued at around EUR 16 billion. The headquarters will be based in Switzerland, while the business will maintain its listing on the Athens Stock Exchange with prospects of listing on an additional exchange in the future.

For investors in Greece, this merger opens the door to new growth opportunities driven by Allwyn’s plans for expansion, technological innovation, digital transformation, scaling, and enhanced global brand presence.

With the recent shareholder endorsement, OPAP and Allwyn can now move forward with their historic merger plans.

Next Steps Following Shareholder Approval

During the January 7 EGM, OPAP’s shareholders also approved the company’s re-domiciliation to Luxembourg, setting the stage for a future relocation of the merged entity’s headquarters to Switzerland.

This re-domiciliation vote received support from approximately 80% of shareholders, representing over 231 million shares out of nearly 359 million outstanding shares.

The merger process has proceeded smoothly, helped by the existing long-term relationship between Allwyn and OPAP, with Allwyn already holding a majority stake in OPAP for several years. This deal aims to solidify and elevate this partnership.

However, shareholder approval is not the final step. Several regulatory approvals and conditions, particularly related to the planned move to Switzerland, remain to be completed.

OPAP anticipates completing the cross-border restructuring within about three months.