Allwyn and OPAP Announce €16bn Merger to Create a European Gaming Powerhouse
Under the terms of the deal, OPAP will transition to operate under the Allwyn name, marking a significant step in both companies’ ambitions to strengthen their presence across Europe.
Allwyn has confirmed a landmark merger agreement with Greek gaming giant OPAP, forming a combined entity valued at approximately €16bn ($18.6bn).
Under the terms of the deal, OPAP will transition to operate under the Allwyn name, marking a significant step in both companies’ ambitions to strengthen their presence across Europe. For OPAP shareholders, the merger offers access to Allwyn’s global brand strength and expansive reach, while Allwyn gains a major foothold in southern Europe as part of its ongoing growth strategy.
From the start of 2026, OPAP’s consumer-facing operations will officially rebrand as Allwyn, though the company will continue to trade on the Athens Stock Exchange. Allwyn has also outlined plans to seek an additional public listing on a leading exchange such as London or New York.
Following its successful takeover of the UK National Lottery licence from Camelot in early 2024, Allwyn has continued to build momentum through strategic acquisitions, including the €217m purchase of Novibet, finalised in March 2025.
In its most recent financial update, Allwyn reported second-quarter 2025 revenues of €2.27bn – a 12% year-on-year rise – taking total H1 revenues beyond €5bn. OPAP’s own half-year results, published last month, showed revenues of €1.15bn for the first six months of 2025, up 6.5% compared with the previous year.
Meanwhile, Allwyn is also advancing a $1.6bn deal to acquire a 62.3% stake in daily fantasy sports platform PrizePicks, further broadening its footprint across global gaming markets.
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