Allwyn's merger with Greek lottery operator OPAP has recently been completed, and the new company's shares have begun trading on the Athens Stock Exchange, marking an important milestone in Allwyn's transformation into a publicly traded company. The merged entity has a total share capital of approximately 770.8 million shares, of which 22% are free float shares, with a closing price on the first day of 14.08 euros, valuing the company at 5.05 billion euros. In plain terms, this means that 93.3% of shareholders chose to stay, casting a vote of confidence with their hard-earned money. Want to keep up with the latest capital movements of global gambling giants? Follow PASA's official website.
Transaction Review: 93.3% of shareholders chose to stay, cash exiters received 19.04 euros per share
This transaction was first announced in October 2025, integrating Allwyn International and OPAP into a single entity. OPAP shareholders approved the transaction earlier this year, with over 93% of OPAP's share capital continuing to invest in the new entity, and only 6.7% of investors choosing to cash out at 19.04 euros per share instead of exchanging shares. After the merger, about 166.4 million shares (22% of total share capital) of the new company are free float shares, with KKCG continuing to hold the majority of the remaining shares. In 2025, Allwyn's total revenue was 8.99 billion euros, a 4% increase year-over-year.
Listing Performance: First day closing at 14.08 euros, market value 5.05 billion euros
Allwyn AG's shares are now traded under the ticker ALWN, replacing OPAP's previous listing status. The share price closed at 14.08 euros on the first day, down 2.76%, valuing the company at 5.05 billion euros. The company plans to seek a secondary listing in London or New York and intends to relocate its headquarters from Luxembourg to Switzerland by the end of the second quarter of 2026. The company also announced plans to distribute a dividend of 0.80 euros per share to shareholders, with a stock dividend option available.
Future Strategy: Aiming to become the world's second-largest publicly traded lottery operator
Allwyn's founder stated that the company has "strategic clarity, scale, capabilities, and ambition" aimed at defining the future of the industry. The CEO mentioned that the merged platform has a "leading market position, high diversification, and strong cash flow generation capabilities," which will drive sustainable growth and continuous value creation. Previously, Allwyn had completed the acquisition of a controlling stake in US-based PrizePicks, further strengthening its position in the US market. Want to keep up with the latest capital movements of global gambling giants? Follow PASA's official website.
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