Allwyn is purchasing the remaining 15.51% ownership of the online gambling operator Stoiximan for €191.6 million ($208.7 million). This acquisition, conducted via Allwyn’s OPAP subsidiary, will be a cash-free and debt-free transaction, subject to a net cash adjustment. Upon completion, Allwyn will achieve complete ownership of Stoiximan.
Simultaneously, Allwyn is divesting its land-based casino holdings in Germany and Australia. The sale of its German casino portfolio, encompassing ten casinos in Lower Saxony, has already concluded, generating anticipated gross proceeds of €67.7 million. Furthermore, Allwyn has agreed to sell its 42% stake in the Reef Hotel Casino in Cairns, Australia, for an estimated €54 million. This Australian transaction is projected to finalize in the first half of 2026.
The Stoiximan acquisition is anticipated to close in the third quarter of 2025, contingent upon regulatory approval in Cyprus. These significant changes will necessitate a reassessment of certain Allwyn balance sheet entries. A previously reported liability of €205.6 million, as of March 31st, will be included, resulting in a corresponding adjustment to equity. However, it’s crucial to note that this adjustment will not impact the company’s income statement or cash flow reports.
Stoiximan’s CEO, Nikos Fligos, commented on the acquisition: “This significant event marks a new phase in Stoiximan’s development. Our dedicated team of 300 employees, the driving force behind our market leadership, remains fully committed to providing exceptional customer experiences and shaping the future of online gaming in Greece and Cyprus.”
The €191.6 million investment in Stoiximan is financed as part of Allwyn’s broader €2.15 billion syndicated credit facility, secured under its new Senior Facilities Agreement with international investors.
