Allwyn will not get as many voting rights in OPAP following the forthcoming merger of the 2 companies as originally prepared.

Some specific conditions around the merger in between the global lottery game operator and the Greek betting, gaming and lotto group have actually been changed.

Initial terms of the merger arrangement saw KKCG Group safe 85% voting interest in the combined entity as an outcome of Allwyn's shares in OPAP being bigger from 51.78% to 78.5%.

However, modified terms have actually now seen the types of shares held by Alllwyn altered - instead of preference show enhanced ballot rights, it will now only receive ordinary shares.

As a result, KKCG's ballot interest in the Allwyn-OPAP combined entity will drop from 85% to 75.1% - the like the number of shares it will hold in the joint business. In addition, Allwyn's percentage of shares will stay at 78.5% regardless of the change in ballot rights.

In the grand scheme of things, this changes really little bit as the Czech-based financial investment group stays the majority stakeholder.

Aside from voting rights, the merger between Allwyn and OPAP is continuing as prepared, with the combined company still set to operate as an Athens Stock Exchange-listed service and continue operating in its current suite of markets.

In a statement on the matter, Allwyn asserted that 'the removal of the contemplated issuance of choice shares highlights the dedication of Allwyn and OPAP to continuing the long-term partnership with existing financiers'.

The decision was made at an Amazing General Meeting (EGM), but has yet to be approved by shareholders in both business. OPAP's board has already authorized the step, with its EGM arranged for 7 January 2026.

The relocation reveals that the Allwyn-OPAP merger is well en route to conclusion, no matter any modifications to particular terms. The deal will even more develop Allwyn as the world's second largest video gaming business by market cap, after Flutter Entertainment.

M&A has actually been the specifying feature of Allwyn's 2026 technique, with the OPAP merger being announced simply a month after it acquired US daily dream sports (DFS) platform PrizePicks for $1.6 bn. PrizePicks would start a growth into forecast markets shortly after.