Allwyn Increases Stake in OPAP to 48.1%

Allwyn Entertainment, the group-wide brand for SAZKA Entertainment AG, announced that it has reached an agreement with Yeonama Holdings Co. Limited to purchase the remaining minority interest in SAZKA Delta AIF Variable Investment Company Ltd (SAZKA Delta), an entity through which Allwyn holds part of its interest in OPAP S.A. (OPAP), for consideration of €327.4 million. As a result, Allwyn’s economic interest in OPAP will increase from 41.2% to 48.1%. Taking into account the net debt and working capital of SAZKA Delta, the transaction implies a premium of more than 10% on OPAP’s current market share price. The purchase price will be financed with cash from the balance sheet, including cash raised by the recent €600 million bond issuance.

“Acquiring the remaining minority interest in SAZKA Delta is an important step for Allwyn and continues our long-term strategy of increasing stakes in our operating companies. This transaction concludes a series of transactions through which we have bought out the interests of other shareholders in SAZKA Delta over the last three years. Together with our election to receive OPAP’s dividends as scrip and open market share purchases, we have increased our economic interest in OPAP from 23.7% in 2018 to 48.1% today. We are very pleased with OPAP’s recent performance and are excited about opportunities to drive further growth,” Robert Chvatal, CEO of Allwyn, said.