Allwyn sells German and Australian casinos and takes full control of Stoiximan
Allwyn International has realigned its business strategy, agreeing to sell casino operations in Germany and Australia, while acquiring full ownership of Greek online betting brand Stoiximan.
The company stated that the moves support a strategy of focusing on high-growth markets and digital-first verticals, stepping away from more traditional casino operations.
Casino sales
In Germany, Allwyn finalised the sale of ten casinos in Lower Saxony on 1 July. The venues were operated under its Casinos Austria International (CAI) subsidiary and brought in €126.4m in revenue last year.
Following the sale, Allwyn received €67.7m in gross proceeds, made up of a €15.2m dividend and €52.5m in direct payments.
Meanwhile, in Australia, the group has accepted an offer for its 42% stake in the Reef Hotel Casino in Cairns, held by Casinos Austria through the ASX-listed Reef Casino Trust (RCT).
The deal is expected to bring in around €54m, with completion aimed for the first half of 2026, subject to regulatory approval and support from 80% of RCT unitholders. Currently holding over 71% together – with Allwyn’s share of RCT’s net income standing at €2.4m in 2024 – Allwyn and its partner Accor have already accepted the bid.
Both the German and Australian assets fall under the company’s Austria segment. The move reduces Allwyn’s international land-based footprint, which outside of Europe is now limited to one casino in Cairo, Egypt.
Stoiximan shares
Looking at the Greek market, Allwyn’s subsidiary OPAP has reached an agreement to acquire a remaining 15.51% stake in Stoiximan from its founding shareholders. Stoiximan makes up part of Allwyn’s Greece and Cyprus segment.
The deal values the outstanding shares at €191.6m on a cash and debt-free basis, with a further adjustment to be made for net cash at the time of completion. Pending clearance from regulators in Cyprus, the transaction is expected to close in Q3 2025.
OPAP first invested in Stoiximan in 2018 and has steadily increased its holding to 84.49% through previous acquisitions. The brand has delivered strong performance in recent years, gaining 27% GGR growth in 2024 alone.
The remaining shares will be purchased using OPAP’s available cash and liquidity. Allwyn also confirmed it will alter its consolidated balance sheet to reflect a related liability of €205.6m as of 31 March 2025, with no impact on its income or cash flow statements.
Greek focus
While the company is known for its lottery operations in markets like the UK, Austria and the Czech Republic, Allwyn has made no secret of its growing iGaming ambitions and Greece could be key to those plans.
Alongside Stoiximan, the group has agreed a deal to acquire a majority stake in Novibet, another major Greek betting operator, with the deal expected to be closed later this year.
https://lotterydaily.com/2025/07/21/retail/allwyn-stoiximan-buyout/