Allwyn International AG has reached a major milestone in its digital transformation strategy by acquiring the remaining minority stake in Stoiximan while divesting land-based casino assets to streamline operations and boost focus on high-growth online markets.
Allwyn Completes Full Takeover of Stoiximan
Allwyn, through its subsidiary OPAP S.A., has completed a key digital acquisition by purchasing the remaining 15.51% minority stake in Stoiximan, a leader in online sports betting and iGaming in Greece and Cyprus. This move solidifies Allwyn’s total ownership of Stoiximan, marking the culmination of a progressive stake-building initiative that began in 2018.
The deal is valued at €191.6 million, structured on a cash-free, debt-free basis, with additional price adjustments based on Stoiximan’s net cash at the time of completion. Funding for the transaction will be fully covered through OPAP’s existing cash and liquidity resources, with the completion date projected for the third quarter of 2025, pending required regulatory approvals.
Strategic Highlights of the Acquisition
- Strengthens Allwyn’s portfolio in high-demand iGaming and online sports betting sectors.
- Expands presence in growing markets across Greece and Cyprus.
- Streamlines operational focus on scalable digital-first services.
- Completely funded through internal cash reserves, showing strong financial stability.
Divestment of Land-Based Casino Assets
As part of its corporate restructuring strategy, Allwyn is offloading its land-based casino assets in Germany and Australia. This divestment represents a pivotal shift from high-operational-cost venues to the more profitable and scalable digital gaming sector. Over €150 million has been generated from the sale of these assets, further bolstering Allwyn’s cash reserves.
This resource reallocation will enable Allwyn to focus entirely on its core businesses, including lotteries and digital gaming, reducing operational complexity and enhancing scalability while mitigating regulatory pressures common in the casino industry.
Why the Full Stoiximan Takeover Matters
Expanding Digital Market Leadership
The acquisition of Stoiximan further integrates one of the most recognized online sports betting brands in Greece and Cyprus into Allwyn’s expanding digital portfolio. Stoiximan’s established team of over 300 employees and expansive customer base presents significant growth opportunities for Allwyn in the competitive iGaming market.
Financial and Operational Efficiency
By divesting lower-yield land-based operations, Allwyn can focus on high-yield digital markets, achieving higher scalability and resilience to economic variables. The move is consistent with industry trends where players migrate toward online platforms offering diverse showcases of sports betting and casino games.
Regulatory and Timing Milestones
The transaction to acquire Stoiximan hinges on approval from Cypriot regulatory bodies. Allwyn anticipates completion in Q3 2025, aligning with its long-term corporate vision.
The strategic timing ensures minimal disruption to operations while maximizing the impact of the transaction on its financial and operational transformation goals.
Conclusion
Allwyn’s full acquisition of Stoiximan and exit from land-based casino markets underline its steadfast commitment to digital transformation. By redirecting resources toward high-growth online markets, the company is well-positioned for sustained success in an increasingly digital iGaming landscape.
