Expanding its digital presence, Athens-listed gambling group OPAP has confirmed that it has agreed to acquire a further 51% stake in Stoiximan Group for €95 million.
Issuing a market filing, OPAP confirms that it will undertake the transaction through its ‘OPAP investments’ subsidiary which will acquire the Stoiximan equity from operating company GML Interactive.
Gaining the majority shareholding in Stoiximan Group, OPAP confirms that it will share joint management of Stoiximan assets, with enterprise investor TCB Holdings.
Last September, OPAP governance acquired a 36.75% stake in Stoiximan Group for €50 million, investing in the Stoiximan Greece/Cyprus and Betano Germany/Romania brands.
Existing deal terms would see GML Interactive grant first right to OPAP in expanding its equity in Stoiximan Group.
The OPAP’s transaction has been approved by Greek and Cypriot gambling regulatory and anti-trust authorities.
Updating the market, OPAP details that its increased investment in Stoiximan brands will help maintain the legacy operator’s leading presence within Greek and Cypriot betting, aiding all-round stakeholders.