The European gambling map is changing with the business combination of Allwyn and OPAP in an agreement considered to be one of the most significant business moves of the year, creating a €16 billion colossus.
As Karel Komárek, Founder and Chair of Allwyn, characteristically stated after the deal, "We’re on a mission to build the world’s leading global gaming entertainment company, and today’s transaction takes us one step closer to that goal.”
The new company, which will be named Allwyn and will remain listed on the Athens Stock Exchange, aspires to become the second largest listed gaming operator in the world – behind only the British Flutter Entertainment.
Aiming to compete with US and British giants
Based on the axes of internationalisation and technological development, the strategy of Allwyn - which is based in the Czech Republic and is a product of the evolution of the SAZKA Group - is clearly moving towards the creation of a European gaming giant, which will be able to compete with the US and British giants on a digital level. It is in this context that it is dynamically expanding into the field of online gaming and sports betting, a sector in which it did not have a strong presence until recently.
Today, it operates in more than seven countries, with a strong presence in Europe and the United States, while managing national lotteries, online gaming platforms and entertainment systems that serve tens of millions of players.
When the idea began
Allwyn 's relationship with OPAP is not new, as the Czech group has been OPAP's largest shareholder for years, holding approximately 48% of the shares through its subsidiary Emma Delta / SAZKA Group.
Through the new agreement, however, OPAP ceases to operate as an independent entity and is fully integrated into the Allwyn structure, which brings all its assets and activities to the same table. As has been announced, the name “Allwyn” will officially replace OPAP’s commercial identity from the first quarter of 2026.
Allwyn is already known in international markets, after being awarded the operation of the UK National Lottery, the largest lottery in the United Kingdom, in 2022 for a period of ten years, starting in 2024.
To support the new business, it acquired Camelot UK and Camelot Lottery Solutions US, consolidating its position in both the UK and US markets. It also has a presence in Austria, Italy, the Czech Republic and Greece.
In addition to OPAP, at the end of 2024, Allwyn completed an agreement to acquire a majority stake (51%) in Novibet , which is under the microscope of the Competition Commission, which initiated a full investigation into the deal.
Allwyn's journey
Allwyn has its roots in the historic Czech lottery SAZKA, of which it acquired 50% in 2011, and a year later took full control (100%). In 2022, SAZKA Entertainment AG was renamed Allwyn AG, while the parent SAZKA Group became Allwyn International a.s.
An important chapter in its journey was its entry into Greece through OPAP. Since 2013, it began acquiring shares of OPAP and gradually increased its percentage, until it reached the current combination.
At the same time, through the investment group KKCG, by which it is largely controlled, Allwyn acquired shares in lotteries and gambling companies in Italy (through participation in Lottoitalia) and in Austria (Casinos Austria AG, CASAG).
With its upgrade, Allwyn has also invested in technology and complementary companies in the industry, such as Instant Win Gaming (e-lottery / instant win products), as part of its strategy to strengthen its digital footprint.
Who is Karel Komárek?
The Founder and Chair of Allwyn and KKCG Group, one of the fastest growing investment groups in Central Europe, which has grown dynamically over the last 25 years, is Czech businessman and investor Karel Komárek.
It has an investment portfolio focused on entertainment and gaming, energy and oil and gas extraction/production, technologies and biomedical, as well as activities such as tourism and real estate.
His net worth was recently estimated at approximately $9.1 billion, making him the second-richest Czech national in the world.
"He is an entrepreneur, investor and philanthropist with a thirty-year track record of building successful businesses. With intuition and in-depth experience, he has created some of Europe's fastest-growing businesses in the entertainment, energy, real estate and technology sectors," Allwyn 's official website states.
From taking out loans to creating an empire
Karel Komárek, after the "Velvet Revolution" (1990), took advantage of the new opportunities in a country that was transitioning to the post-communist market model. He started his first business in 1992, founding the company MOS Hodonín with initial capital lent to him by his father, active in the production of industrial components.
MOS then evolved into MOS Hodonín / Morovia Systems and expanded into technological solutions, paving the way for entry into the energy sector.
In 1995 , he founded the investment firm KKCG (KKCG Group), which evolved into a vehicle for multidimensional investments — energy, real estate, technology and, gradually, the lottery and gambling sector.
(Source: InBusinessNews)
