Allwyn has wrapped up its merger with Greek gaming operator OPAP, forming what the company claims is the world’s second-largest listed lottery and gaming business. The combined entity now trades on the Athens Stock Exchange under the Allwyn name.

This isn’t a fresh partnership. Allwyn first invested in OPAP back in 2013, and the two firms have been working together ever since. The merger formalizes what’s been a long-term relationship, bringing two profitable operations under one roof.

What the Merger Delivers

The deal creates a genuinely diversified business. Allwyn now holds leading positions across multiple European markets, with a product mix spanning national lotteries, instant games, sports betting, and digital offerings. That spread gives the company resilience. Room to maneuver as player preferences shift.

According to Allwyn, the merged business benefits from cutting-edge technology infrastructure and a solid balance sheet, positioning it for further expansion. The company says it’s committed to responsible gambling standards while driving shareholder value.

Shareholder Details

Allwyn confirmed it will distribute EUR 0.80 per share to shareholders once share transactions related to cash exit rights are settled. That’s expected to happen in April. After the exit is complete, Allwyn will have 770,799,070 shares outstanding, excluding treasury shares.

The company also announced plans to shift its legal domicile from Luxembourg to Switzerland before the end of June 2026. Beyond that, Allwyn is eyeing additional listings on either the London or New York stock exchanges, though no firm timeline has been set.

What Leadership Says

Karel Komarek, Allwyn’s founder and chair, described the merger as opening a new chapter built on 13 years of collaboration. He emphasized the combined company’s potential to redefine entertainment in an evolving consumer market.

CEO Robert Chvatal expressed confidence in the merged entity’s ability to deliver sustainable growth. He thanked shareholders, employees, and regulators for backing the transaction, which he says cements Allwyn as a big player in lottery gaming.

Recent Setback

The OPAP deal stands in contrast to Allwyn’s recent difficulties with another proposed merger. The company was forced to abandon plans to acquire Novibet after competition authorities raised concerns. That setback hasn’t derailed Allwyn’s broader growth strategy, but it shows regulators are watching consolidation in this space closely.

With the OPAP merger complete, Allwyn has the scale and market presence to pursue further opportunities. Whether those materialize in London, New York, or elsewhere remains to be seen. But the company’s ambitions are clear.