OPAP S.A. (“OPAP”) announces that, in line with its previous announcements dated 21 April 2020 and 7 August 2020, its fully-owned subsidiary, OPAP Investment Ltd (“OPAP Investment”) acquired yesterday the pre-agreed additional 15.48% indirect stake in Stoiximan Group’s Greek and Cypriot business (“SMGC”), currently operated by Kaizen Gaming International Limited (former “GML Interactive Ltd”), for aggregate consideration of €43.3m plus net cash.
Additionally, OPAP Investment will pay earnout payments for 2020 and 2021 subject to the performance criteria set for SMGC.
Following the completion of the aforementioned transaction, OPAP effectively holds 84.49% combined stake in SMGC, while it retains its 36.75% stake in Kaizen Gaming International’s operations outside of Greece and Cyprus under the BETANO brand.
As previously announced, OPAP Investment will proceed with the acquisition of sole control over SMGC upon receipt of the requisite regulatory and competition approvals.
Athens, 19.11.2020
OPAP S.A.
