The Allwyn and OPAP combination completed on 24 March. Allwyn International’s contribution of its businesses went through on 16 March, OPAP shareholders had approved the cross-border conversion in January with 80.3% of the votes, and the Hellenic Gaming Commission cleared the deal in December. The combined group has a market value above EUR 11 billion, KKCG holds 78% of the votes, and the shares are due to start trading on the Athens exchange under the Allwyn name on 1 April. A EUR 0.80 per share distribution follows.
Five months from announcement to completion for a EUR 16 billion cross-border deal with a re-domiciliation, a regulator, a minority exit right and a shareholder vote. That is quick. A few reasons it worked.
The buyer already had control. 51.78% at the start meant the vote was about the minority, and the outcome was never in doubt.
The exit right was priced to be unattractive. Holders of just under 24 million shares, 6.7% of OPAP, took the EUR 19.04 cash exit in February - EUR 456 million in total, well within what the structure could absorb.
The dividend path was announced on day one, so minority holders knew what they were getting for staying in.
Elsewhere this month, Superbet launched in Greece, a market of about EUR 1.2 billion in annual gross win where OPAP’s Stoiximan holds about half of licensed online betting. Kaizen Gaming bought GameplAI, an AI trading supplier. Playtech reported its first year as a pure B2B business after the Snaitech sale, with EUR 763.6 million of revenue and EUR 1.8 billion returned to shareholders.
The pattern across all of these: operators are buying technology teams and suppliers are shedding consumer businesses. For a CEE studio or trading-tech team, that is the buyer universe to be talking to.
(Sources: SBC News, 24 March 2026; KKCG; Lottery Daily, 11 February 2026; iGaming Business)