Allwyn has completed its business combination with OPAP and formally created a larger listed gaming group. The Allwyn OPAP merger brings together two businesses that have worked closely since KKCG first invested in OPAP in 2013. The combined company said the deal strengthens its lottery-led model across Europe and North America.

• Allwyn said the transaction creates the second-largest listed lottery and gaming operator globally. The ranking is based on LTM September 2025 EBITDA, including the PrizePicks acquisition. Land-based casino operators were excluded from the comparison.
• The deal was announced in October 2025 and approved by OPAP shareholders in January 2026. More than 93% of OPAP share capital remained invested after limited use of exit rights. This left Allwyn with strong shareholder backing post-transaction.
• After completing share purchases linked to exit rights, expected in April 2026, Allwyn will have 770,799,070 shares outstanding excluding treasury shares. Around 22% will be free float, with the remainder held by KKCG. The company also plans to pursue a secondary listing in London or New York.
• Allwyn confirmed a planned EUR 0.80 per share distribution following completion of the exit process. CEO Robert Chvatal said: “This is a major strategic milestone for Allwyn.” The company also expects to redomicile to Switzerland before the end of Q2 2026.

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