Amended Terms Reduce KKCG's Voting Interest In Allwyn-OPAP Merger

Allwyn will not get as numerous voting rights in OPAP following the upcoming merger of the two business as initially prepared.


Some specific conditions around the merger in between the international lottery operator and the Greek betting, gaming and lottery group have been altered.


Initial regards to the merger agreement saw KKCG Group safe and secure 85% ballot interest in the combined entity as an outcome of Allwyn's shares in OPAP being enlarged from 51.78% to 78.5%.


However, revised terms have actually now seen the types of shares held by Alllwyn altered - instead of preference show boosted voting rights, it will now only get ordinary shares.


As an outcome, KKCG's voting interest in the Allwyn-OPAP combined entity will drop from 85% to 75.1% - the same as the number of shares it will keep in the joint enterprise. In addition, of shares will remain at 78.5% despite the change in ballot rights.


In the grand scheme of things, this modifications really little bit as the Czech-based financial investment group stays the bulk stakeholder.


Aside from voting rights, the merger between Allwyn and OPAP is continuing as planned, with the combined business still set to operate as an Athens Stock Exchange-listed service and continue operating in its present suite of markets.


In a declaration on the matter, Allwyn asserted that 'the elimination of the contemplated issuance of preference shares highlights the commitment of Allwyn and OPAP to continuing the long-term partnership with existing investors'.


The decision was made at an Extraordinary General Meeting (EGM), however has yet to be approved by investors in both business. OPAP's board has actually already authorized the step, with its EGM arranged for 7 January 2026.


The relocation shows that the Allwyn-OPAP merger is well on the way to conclusion, no matter any modifications to specific terms. The offer will further establish Allwyn as the world's second largest gaming company by market cap, after Flutter Entertainment.


M&A has been the specifying feature of Allwyn's 2026 technique, with the OPAP merger being revealed just a month after it got US daily dream sports (DFS) platform PrizePicks for $1.6 bn. PrizePicks would embark on an expansion into forecast markets soon after.