Allwyn International, headquartered in Switzerland, recently announced that it has completed the sale of its casino assets in Germany and Australia, further focusing on the lottery and online gambling markets. Additionally, the company has reached an agreement to acquire the remaining 15.51% minority stake in Stoiximan, an online sports betting and gaming company in Greece and Cyprus, achieving full ownership.
The sale of the German assets includes 10 physical casinos in Lower Saxony, with total proceeds amounting to 67.7 million euros, including previously paid dividends of 15.2 million euros and 52.5 million euros received this month from the sale. The annual revenue of the German casino business is approximately 126.4 million euros.
Meanwhile, Allwyn is selling its casino business in Australia, operated by a subsidiary of Austrian International Casinos, with the main asset being the Reef Hotel Casino in Cairns. The transaction is expected to yield total proceeds of about 105 million euros, with the group anticipating a net gain of 54 million euros. The transaction involves an off-market cash acquisition of shares in the Reef Casino Trust (RCT) listed on the ASX, requiring approval from the majority of shareholders and regulatory authorities, and is expected to be completed in the first half of 2026.
In terms of expanding its online gambling business, Allwyn's Greek subsidiary OPAP will acquire the remaining shares of Stoiximan for a cash consideration of 191.6 million euros, increasing its stake to 100%. Stoiximan is expected to achieve a 27% increase in total gambling revenue in 2024, demonstrating strong profitability. This full acquisition aligns with Allwyn's strategy to enhance its investment in the online sports betting and gaming sectors, aiding the synergistic development of its lottery business.
Nikos Fligos, CEO of Stoiximan, stated that the team will continue to focus on providing excellent customer experiences in the Greek and Cypriot markets, driving the company's future development.
Allwyn's revenue in 2024 reached 8.8 billion euros, a 12% increase year-over-year, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) growing by 4% to 1.54 billion euros. Last year, the company moved its international headquarters to Lucerne, Switzerland, and was renamed Allwyn International AG, marking an important step in its internationalization process.
