OPAP has just taken full ownership of Stoiximan. The final 15.51% stake cost €191.6m in a deal structured on a cash-free, debt-free basis. With this move, the OPAP Stoiximan acquisition is now complete, giving OPAP full control over the business.

• The acquisition lifts OPAP’s stake in Stoiximan from 84.49% to 100%. The €191.6m sum excludes an adjustment that will be based on net cash as of the closing date. The transaction is expected to close in Q3 2025, pending regulatory approval in Cyprus.

• OPAP originally entered Stoiximan back in 2018. Its investment was driven by the platform’s growth potential in online betting. Two follow-up deals in 2020 increased its stake before the latest transaction closed the gap.

• Stoiximan remains a dominant player in the Greek and Cypriot online markets. It operates under its own licence and brand, separate from OPAP’s Pamestoixima.gr. OPAP said both brands will keep running independently with distinct teams and licenses.

• Kaizen Gaming will continue to support Stoiximan going forward. It will provide the technology backbone and maintain product development for the brand. This support is expected to preserve Stoiximan’s focus on user experience and innovation.

• OPAP says this acquisition aligns with its strategic focus on online gaming. Chairman & CEO Jan Karas said, “I am very pleased with the recent transaction, which further expands our footprint in the fast-growing online market.” He reaffirmed OPAP’s commitment to a dual brand strategy.

• Stoiximan CEO Nikos Fligos called it a milestone for the brand. “With the dedication and passion of our 300-strong team, we remain fully committed to delivering outstanding experiences,” he said. The company aims to keep shaping online gaming in Greece and Cyprus.

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