Allwyn’s €16bn ($18.5bn) merger with Greek Lottery operator, OPAP, has officially concluded – and Group CFO Kenneth Morton reflected on the deal’s origins and implications with Global Gaming Insider.
Speaking on what he labels as the ‘biggest merger of his tenure,’ Morton underscored the achievement of getting this deal over the line under challenging global conditions – expressing the importance of diversification in the modern gaming market, particularly when looking to field regulatory risks as a major corporate entity – which Allwyn certainly now is.
On that note, the Allwyn CFO also reiterated that the organisation is – as of the closure of this latest merger – the second-largest listed lottery and gaming operator globally.
Indeed, Allwyn’s recent expansions have propelled the operator into a notable position for any business enthusiasts both inside and outside the gaming industry.
As a newly registered Swiss entity, Morton explained that the bulk of the business has been slowly moved away from its home nation of the Czech Republic and towards Switzerland, in tandem with the recent growth it has experienced over the past couple of years.
Building on this, he noted that there “won’t be the likes of OPAP or PrizePicks mergers for us every year. However, opportunities remain everywhere and we are well-placed within the market.”
It was established last week by CEO Robert Chvátal during the operator’s investor call that the current OPAP executive team would carry on running both Greek and Cypriot operations for what is now a joint and rebranded business for Allwyn.
Morton underlined: “The Greek team has done a great job running the business and this decision will make it easier to roll out new tech and content in the two neighbouring markets – which share a lot of synergies from business and gaming perspectives.”
Conclusively, Morton reiterated that technology will remain a large part of Allwyn’s strategy. While the company cannot reveal "too much" at this juncture, the closing of this deal arrives in parallel with the finalising of the UK Lottery technology upgrade, as well as recent PrizePicks developments.
Allwyn’s parent company, KKCG Group, originally invested in OPAP in 2013
