Opap shareholders back split and Allwyn merger plan

Opap shareholders approved the company’s split and cross-border transformation plan on January 2026, clearing the way for the merger of Allwyn and Opap during the group’s 13th extraordinary general meeting, which was attended by shareholders representing 80.12 per cent of the company’s paid-up share capital.

All agenda items were approved, as the required majorities were secured, according to information presented to shareholders during the meeting.

The company said that the final and official voting results will be announced through disclosures to the stock exchange, alongside detailed instructions on how shareholders may exercise the €19.04 exit right.

“The proposed merger is a transformational step for both companies and for the global gaming sector,” Giannos Karas said ahead of the discussion and vote.

“It positions the company appropriately to deliver strong financial performance and returns for shareholders,” he added.

“The merged entity will continue to have deep roots in Greece and will remain listed on Euronext Athens,” he said.

“The benefits are substantial, including participation in a strong growth platform for the sector and a robust dividend policy,” he said.

“The merger creates a new global champion in the gaming industry and marks a new era of development for both companies,” he said, adding that the company is ready to benefit from the significant future growth expected.

During the general meeting, shareholders called for the continuation of OPAP’s attractive dividend policy, which has been followed to date.

“A special dividend of €0.80 will be distributed following completion of the transaction, while a minimum dividend of €1 per share will continue to be paid to shareholders,” Pavel Mucha said.

“There is no change whatsoever to the existing tax regime in Greece, which remains at 5 per cent,” he added.

“With the merger, the new group gains broader geographic diversification, greater scale and access to strong technology that will create higher shareholder value,” Karas said.

“The transaction and cross-border transformation fully comply with European Union law,” Nancy Verra said.

“The company will maintain a significant presence in Greece and will continue operating as a société anonyme,” she added.

“No preference shares will be issued as part of the transaction, and the rights of minority shareholders are fully protected,” she said.

“The presence of Karel Komarek and the leadership team that brought OPAP to this point remains unchanged,” Karas said.

The purpose of the meeting was the discussion and approval of major corporate transformations, with the central issue being the approval of the company split through the carve-out of the gaming activities sector and the establishment of a new beneficiary company, in line with the applicable corporate and tax framework.

Shareholders approved the split plan, the transformation balance sheet of the demerged sector, and the ratification of all decisions and actions taken to date by the board of directors in connection with the split.

Approval was also granted for the articles of association of the new beneficiary company, the appointment of its first board of directors, and the granting of all necessary authorisations.

In addition, the general meeting approved amendments to the company’s articles of association relating to its name and corporate purpose, as a direct consequence of the gaming sector carve-out.

What is more, shareholders approved the establishment of a new wholly owned subsidiary, into which OPAP will contribute its holdings in existing subsidiaries, as part of the broader corporate transformation and exchange of shareholdings.

It should mentioned that Opap Cyprus announced in December that it would rebrand as Allwyn from January 2026, marking a shift designed to align the company more closely with its international parent group while strengthening its relationship with customers in Cyprus.

The change of name and identity was presented to retail network partners and employees at a dedicated event, where the rebranding strategy and future outlook were outlined by Alexandros Davos and senior executives.

The company said the decision followed an in-depth review of market data, with a focus on engaging younger customers, and will draw on Allwyn’s modern international identity while building on Opap Cyprus’ established position.

“The company and its network of partners have left a significant footprint in the market, forming an integral part of the Cypriot economy and society,” Davos said.

“This legacy is a strong foundation for the future, which will bring the company even closer to its international family through new investments, growth opportunities and best practices,” he added.

The Allwyn brand will be rolled out gradually across stores and public touchpoints, with no changes to existing games, player protection measures, social initiatives or sports sponsorships.