Allwyn International AG and OPAP S.A. announced that their Boards of Directors have approved the business combination of the two groups, through a transaction that includes the combination of all corporate participations they hold, with the value of the equity of the new entity estimated at 16 billion euros.
To implement the transaction, a relevant agreement will be signed between the two companies, while the new company will be renamed Allwyn.
According to a joint statement by Allwyn and OPAP, the transaction represents a significant milestone in the evolution of both companies. It will unite two leading gaming operators, creating the second largest publicly traded gaming and entertainment company in the world, with many diversified, fast-growing and leading market positions in Europe, the United States and other international markets. The transaction builds on the already successful cooperation between OPAP and Allwyn, which began in 2013, when KKCG, the controlling shareholder of Allwyn, first invested in OPAP. Today, Allwyn owns 51.78% of OPAP.
The transaction ensures the long-term value of OPAP in a rapidly evolving environment for the gaming industry. In addition, it allows OPAP shareholders to benefit from the advantages of the combined company, which include growth, scale, diversification, access to leading technologies, digitalization and increased global recognition of the Allwyn brand. At the same time, they will continue to benefit from significant and resilient returns.
