OPAP shareholders have approved the resolutions required to advance the Greek operator’s planned business combination with Allwyn International, marking a significant milestone in the transaction process.
The approvals were granted at an Extraordinary General Meeting (EGM) held in Athens on 7 January 2026.
According to a joint announcement by OPAP and Allwyn, shareholders voted in favour of the measures enabling OPAP’s cross-border conversion and re-domiciliation to Luxembourg, a prerequisite step ahead of the wider merger with Allwyn.
The resolution authorising the conversion was approved by 80.3% of votes cast, comfortably exceeding the threshold required under Greek law.
In total, more than 231 million shares voted in favour of the proposal, with around 50 million voting against and a smaller number abstaining.
The approval allows OPAP to proceed with the cross-border conversion process, which is expected to be completed within approximately three months of the EGM.
While the vote represents a major step forward, completion of the transaction remains subject to several closing conditions. These include remaining regulatory approvals and customary completion requirements.
OPAP has already secured approval from the Hellenic Gaming Commission, which was granted in December 2025.
Another key condition relates to shareholder exit rights. Shareholders who voted against the conversion are entitled to exercise a cash exit option, provided that redemptions do not exceed 5% of OPAP’s total share capital, unless waived jointly by OPAP and Allwyn.
The boards of both companies have indicated a preference for minimal redemptions, supporting the long-term alignment of interests between OPAP, Allwyn and its main shareholder, KKCG.
Shareholders who elect to exercise their exit rights will receive cash compensation within one month of the conversion becoming effective. However, those shares will be restricted from trading during the process and will not be eligible for OPAP’s €0.80 dividend.
The merger forms part of Allwyn's ongoing expansion strategy, which has included recent acquisitions of PrizePicks and the UK National Lottery licence.
Shareholders exercising their cash exit rights will not receive OPAP’s €0.80 dividend and will be unable to trade the affected shares during the conversion period
