(Reuters) -European lottery group Allwyn International and Greek gaming firm OPAP will merge in an all-share deal valuing the new company at 16 billion euros ($18.56 billion), they said on Monday, creating one of the world’s biggest lottery operators.
Privately owned Allwyn has been expanding rapidly in recent years, taking over lottery operators in the United States and Britain’s National Lottery. The tie-up with OPAP is a step toward a listing in a major centre like London or New York, the companies said.
Allwyn said the completion of the transaction with OPAP, in which it already owns 51.78%, was expected in the first half of 2026, subject to shareholder and regulatory approvals.
Allwyn will hold 78.5% in the combined company, while OPAP shareholders, excluding Allwyn, will hold the remaining 21.5%, assuming an all-share combination, the companies said.
KKCG, the investment group of Czech billionaire Karel Komarek and main owner of Allwyn, will have 85% of voting rights.
The combined group will be named Allwyn and remain listed on the Athens Stock Exchange. It will seek a listing on an international exchange such as London or New York following the transaction’s closing, the companies said.
In 2024, Allwyn reported adjusted earnings before interest, tax, depreciation and amortisation of 1.5 billion euros, on revenue of 8.8 billion, a 12% year-on-year rise.
Last month as part of its strategy to move into other segments, Allwyn said it would acquire a majority stake in U.S. fantasy sports operator PrizePicks in a deal valuing the Atlanta-based company at $1.6 billion.
KKCG sold a 4.3% stake in Allwyn to Czech-Slovak group J&T Arch Fund in August, valuing the lottery group at 11.2 billion euros.
($1 = 0.8618 euros)
(Reporting by Jason Hovet in Prague and Athina Karolidou in Gdansk; Editing by Joe Bavier)
