Shareholders in Greece’s OPAP have exercised the company’s cash exit right over 23,959,850 shares, representing 6.7% of OPAP shares outstanding (excluding treasury shares), as the group advances its business combination with lottery operator Allwyn. The exit right window closed on 9 February 2026, following OPAP’s extraordinary general meeting on 7 January 2026.
OPAP and Allwyn said the cash compensation is set at €19.04 per share, implying a total payout of €456 million. The companies added that the compensation will be paid within one month from the date OPAP’s cross-border conversion becomes effective.
From an operator-financial perspective, the relatively small percentage of shareholders choosing cash-out reduces immediate balance-sheet uncertainty, while still creating a clearly defined cash obligation tied to the legal completion step. OPAP has also highlighted that shareholders who exercise the exit right cannot trade the affected shares during the process and those shares are not eligible for the previously announced €0.80 post-closing dividend—a structure that tends to concentrate participation among investors willing to stay exposed to the combined equity story.
Greece’s opap reports 6.5% growth in h1 gross gaming revenue
Allwyn and OPAP expect the cross-border conversion—redomiciling OPAP to Luxembourg and renaming it Allwyn AG—to take place in March. Taking the exit right outcome into account, the combined company is expected to have 770,799,070 shares (excluding treasury shares), with 78.4% indirectly held by KKCG Group and 21.6% as free float.
