The merger between Allwyn and OPAP has been completed, creating the second biggest publicly listed operator globally, worth €16 billion.Under the deal, Allwyn has...
Allwyn International obtains remaining Stoiximan stake
Lottery giant Allwyn International acquires the remaining 15.51% Stoiximan stake, becoming the full owner of the iGaming operator in Greece and Cyprus.
The transaction is set to complete in Q3 2025, waiting for approval by Cypriot regulatory authorities, and financed by OPAP, a Greek lottery operator in which Allwyn owns a controlling stake. It will pay €191.6 million in cash on a cash-free, debt-free basis for the remaining minority stake in Stoiximan Ltd, which operates Kaizen Gaming’s business in Greece and Cyprus under the Stoiximan brand.
After initially acquiring a minority stake in Stoiximan in 2018, OPAP increased its ownership to 84.49% through a series of transactions. With this deal, Allwyn takes full control of Stoiximan, strengthening its presence in one of Southern Europe’s fastest-growing online betting markets.
The acquisition aligns well with the company’s strategy to increase its stake in existing operations it doesn’t yet fully own.
Allwyn shared:
“It will also increase Allwyns ex’posure to the high-growth online sports betting and iGaming segments, which are complementary to the resilient growth profile of the group’s lottery operations.”
Alongside the Stoiximan acquisition, Allwyn has exited its casino operations in Germany and agreed to sell its casino interests in Australia. In Germany, the company completed the sale of its casino operations, which consisted of 10 casinos in Lower Saxony.
Allwyn International has dropped its planned acquisition of Novibet after receiving feedback from the Greek gambling regulator Hellenic Competition Commission (HCC).
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