KKCG voting interest in Allwyn-OPAP merger reduced
Some specific terms of the merger deal between Allwyn and OPAP have been amended, reducing the voting interest of the former’s parent company.
KKCG Group initially secured 85% voting interest in the combined entity emerging from the merger between global lottery firm Allwyn and Greek gaming and lotteries group OPAP.
This will reduce Czech-based investment firm KKCG”s voting interest in the company from 85% to 75.1%, as a result of the types of shares held by Allwyn being swapped from preference shares with enhanced voting rights to ordinary shares.
Allwyn will still retain the same number of shares in OPAP, 78.5%, but the types of shares owned will be different. The merger deal saw the company’s shareholding increase from 51.78%, having been a key stakeholder in OPAP for some time.
The merger was a huge moment for Allwyn, and by extension KKCG. The deal further solidified Allwyn as the world’s most valuable publicly listed lottery company and the second most valuable publicly listed gambling company after Flutter Entertainment.
Aside from voting rights, nothing else has been changed. The merger between Allwyn and OPAP is proceeding as planned, with the combined entity set to trade on the Athens Stock Exchange.
The deal should also unlock more investment opportunities for OPAP, one of the biggest betting firms in Greece and the operator of the country’s National Lottery, having re-secured the contract during a tender process earlier this year.
Allwyn maintains significant interest in the Greek gaming space. As well as OPAP, it is also a shareholder in Kaizen Gaming, operator of the Betano and Stoiximan brands, and secured terms to acquire a stake in Novibet in December last year.
The company’s international presence has been significantly stepped up this year, however – particularly in the US, where its foothold has been largely focused on B2B operations and management of the Illinois state lottery contract.
In September, the firm agreed to pay US$1.6bn for a 62.3% stake in PrizePicks, one of the two biggest daily fantasy sports (DFS) operators in the US alongside Underdog. Shortly after, PrizePicks unveiled the early stages of its entry into US prediction markets.
https://lotterydaily.com/2025/12/19/retail/kkcg-allwyn-opap-votes/