European gambling giant Allwyn announced that it will acquire the remaining 15.51% stake in Stoiximan, a subsidiary of OPAP that it does not yet own, for approximately 191.6 million euros, achieving full control of this Greek and Cypriot online operator. The transaction will be conducted in a cash-free, debt-free manner and is expected to be completed in the third quarter of 2025, pending approval from the Cypriot regulatory authorities.
With this acquisition, Allwyn is accelerating its transformation towards European online gambling operations, while gradually exiting its investments in physical casinos. Following the sale of its 10 casinos in Lower Saxony, Germany, for about 67.7 million euros earlier this month, Allwyn has announced that it will sell its 42% stake in the Cairns Reef Casino Hotel in Australia for an estimated 54 million euros, with the transaction expected to be completed in the first half of 2026.
This strategic restructuring will also affect Allwyn's balance sheet. The company will restate the 205.6 million euros of related liabilities reported as of the end of March, adjusting equity data, but not affecting profit and loss or cash flow.
Stoiximan CEO Nikos Fligos stated that this transaction is an important milestone in the company's development and emphasized that its 300 employees will continue to be committed to providing a leading online gaming experience in the Greek and Cypriot markets.
The funds for this transaction come from a 2.15 billion euro syndicated loan agreement reached by Allwyn with global investors, providing strong support for the company's expansion into online gambling operations.
