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

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Allwyn will not acquire as numerous voting rights in OPAP following the upcoming merger of the two companies as originally prepared.


Some particular conditions around the merger between the worldwide lottery operator and the Greek wagering, gaming and lottery game group have actually been altered.


Initial regards to the merger contract 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 changed - rather of preference show boosted ballot rights, it will now just get normal shares.


As a result, KKCG's ballot interest in the Allwyn-OPAP combined entity will drop from 85% to 75.1% - the like the variety of shares it will keep in the joint business. In addition, Allwyn's percentage of shares will remain at 78.5% despite the in ballot rights.


In the grand scheme of things, this changes extremely bit as the Czech-based investment group remains the majority stakeholder.


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


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


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


The move reveals that the Allwyn-OPAP merger is well on the way to completion, regardless of any changes to particular terms. The offer will further develop Allwyn as the world's second largest video gaming company by market cap, after Flutter Entertainment.


M&A has actually been the defining function of Allwyn's 2026 method, with the OPAP merger being announced simply a month after it got US daily dream sports (DFS) platform PrizePicks for $1.6 bn. PrizePicks would start a growth into prediction markets quickly after.