Allwyn to acquire 36.75% stake in Kaizen

22 April 2022

Lucerne, Switzerland, April 20, 2022: Allwyn today announced that it has reached an agreement with OPAP Investment Limited (a wholly owned subsidiary of OPAP S.A.) to acquire its 36.75% interest in the business activities of Kaizen Gaming Limited outside Greece and Cyprus (“Kaizen”).

The purchase price comprises (i) an upfront cash consideration of €50 million, on a debt free and cash free basis, and (ii) performance based earnout payments.

The purchase price corresponds to the fair market value of OPAP Investment’s interest, as evaluated by an independent financial advisor.

The announced transaction reflects Allwyn’s international growth strategy and OPAP’s strategic focus on maintaining and strengthening its leading position in the Greek and Cypriot gaming markets.

About Kaizen

Kaizen is a fast growing online sports betting and iGaming operator using proprietary gaming technology. The company operates in seven markets under Betano brand with particularly strong presence in Romania and Portugal.

About Allwyn

Allwyn is the group-wide brand of SAZKA Entertainment AG, a lottery, entertainment, and digital gaming operator, with trusted brands delivering over €16 billion in wagers. Allwyn is one of Europe’s largest and fastest growing lottery companies and its strong performance across its markets is helping to fund good causes in Austria, the Czech Republic, Greece, Cyprus and Italy.


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