OPAP’s purchase of a majority stake in rival Stoiximan was made official on Thursday, following the completion of due diligence procedures.
According to the ATHEX-listed lottery and sports betting operator, its subsidiary, OPAP Investment Ltd., will purchase 51 percent of the Stoiximan group in Greece and Cyprus – held by GML Interactive Ltd. – for 94.89 million euros. OPAP will assume control of Stoiximan after the transaction, and pending approval by relevant regulatory bodies.
Stoiximan posted revenues in 2017 of 136 million euros, with EBITDA reaching 16 million euros.
