Allwyn International and the Greek Organisation of Football Prognostics S.A. (OPAP) have modified its merger agreement, originally formed in October 2025, to include the distribution of ordinary OPAP shares to Allwyn instead of preference shares as previously agreed upon.
The number of ordinary shares received by Allwyn as consideration for its assets and liabilities will be adjusted accordingly to maintain the 78.5% economic interest formed in the original transaction.
The economic interest of KKCG, Allwyn's main shareholder, will remain at 75.1%, but the entity's voting interest has also been reduced from 85% to 75.1%. The Extraordinary General Meeting for OPAP to approve the transaction's various steps will be held on 7 January.
Allwyn originally announced its agreement with the Greek operator on 13 October, part of a transaction which generated a combined equity figure of $18.6bn between the two entities.
According to Allwyn's most recent update, the combined business will represent the second-largest listed gaming and lottery operator across the globe.
Within the agreement, OPAP will begin operating under the Allwyn brand, as both operators set their respective sights on expansion across the European continent.
For OPAP, the merger will see its shareholders benefit from the significant global outreach and brand recognition currently held by Allwyn, which in turn gains a powerful asset as part of its latest European expansion strategy.
Lord Sebastian Coe has been proposed to be appointed as incoming Senior Independent Non-Executive Director of the combined business, while Cherrie Chiomento will continue to serve as an Independent Non-Executive Director and as Chair of the merged entity's Audit Committee.
Allwyn appointed new Group Chief Brand Officer Tatiana Jouanneau to the role on 9 December, offering extensive managerial, M&A and international marketing experience from a multitude of industries
