Global lottery powerhouse Allwyn and Greece/Cyprus-based gaming company OPAP announced Monday an $18.6 billion merger, resulting in what the entities claim is now the second largest listed lottery and gaming operator globally.
This news comes just three weeks after Czech Republic-based Allwyn made a significant expansion beyond its main lane of lottery by acquiring a 62.3% stake in U.S. fantasy sports site PrizePicks.
Allwyn and OPAP had an existing partnership dating back to 2013, when KKCG, the controlling shareholder of Allwyn, made its first investment in OPAP.
“Today’s announcement redefines the sector,” said Karel Komarek, the founder and chair of KKCG and Allwyn, in a release.
