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Allwyn will not gain as many ballot rights in OPAP following the forthcoming merger of the 2 as originally planned.
Some particular terms and conditions around the merger between the worldwide lotto operator and the Greek betting, gaming and lotto group have actually been changed.
Initial regards to the merger contract saw KKCG Group safe 85% ballot interest in the combined entity as a result of Allwyn’s shares in OPAP being enlarged from 51.78% to 78.5%.
However, modified terms have now seen the types of shares held by Alllwyn changed — rather of choice shares with enhanced voting rights, it will now only receive normal shares.
As an outcome, KKCG’s ballot interest in the Allwyn-OPAP combined entity will drop from 85% to 75.1% — the very same as the number of shares it will keep in the joint enterprise. In addition, Allwyn’s percentage of shares will remain at 78.5% regardless of the change in voting rights.
In the grand plan of things, this modifications extremely little bit as the Czech-based investment group stays the majority stakeholder.
Aside from voting rights, the merger between Allwyn and OPAP is proceeding as planned, with the combined business still set to run as an Athens Stock Exchange-listed company 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 dedication of Allwyn and OPAP to continuing the long-lasting partnership with existing investors’.
The choice was made at a Remarkable General Meeting (EGM), however has yet to be authorized by shareholders in both business. OPAP’s board has already approved the measure, with its EGM scheduled for 7 January 2026.
The move reveals that the Allwyn-OPAP merger is well en route to conclusion, despite any modifications to specific terms. The offer will further establish Allwyn as the world’s second largest gaming business by market cap, after Flutter Entertainment.
M&A has been the defining feature of Allwyn’s 2026 technique, with the OPAP merger being announced just a month after it acquired US everyday dream sports (DFS) platform PrizePicks for $1.6 bn. PrizePicks would start an expansion into prediction markets shortly after.
