Amended Terms Reduce KKCG's Voting Interest In Allwyn-OPAP Merger
Allwyn will not acquire as lots of ballot rights in OPAP following the upcoming merger of the two companies as originally prepared.
Some particular terms around the merger between the worldwide lottery operator and the Greek betting, gaming and lottery game group have been altered.
Initial terms of the merger agreement saw KKCG Group safe 85% voting 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 now seen the types of shares held by Alllwyn changed - rather of show improved ballot rights, it will now only get normal shares.
As a result, KKCG's voting interest in the Allwyn-OPAP combined entity will drop from 85% to 75.1% - the same as the number of shares it will hold in the joint business. In addition, Allwyn's portion of shares will stay at 78.5% in spite of the modification in ballot rights.
In the grand scheme of things, this changes very little as the Czech-based financial investment group remains the majority stakeholder.
Aside from voting rights, the merger between Allwyn and OPAP is proceeding as prepared, with the combined company still set to run as an Athens Stock Exchange-listed business and continue running in its present suite of markets.
In a statement 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-term partnership with existing investors'.
The choice was made at an Extraordinary General Meeting (EGM), but has yet to be approved by investors in both companies. OPAP's board has actually already authorized the measure, with its EGM arranged for 7 January 2026.
The move shows that the Allwyn-OPAP merger is well en route to conclusion, no matter any changes to specific terms. The offer will even more develop Allwyn as the world's second largest video gaming business by market cap, after Flutter Entertainment.
M&A has actually been the defining function of Allwyn's 2026 method, with the OPAP merger being revealed simply a month after it acquired US daily fantasy sports (DFS) platform PrizePicks for $1.6 bn. PrizePicks would start an expansion into forecast markets shortly after.