OPAP now holds 100% ownership of Stoiximan. OPAP announced the acquisition of the remaining 15.51% stake in Stoiximan for €191.6 million, plus proportional net cash available at the transaction closing date, increasing its shareholding in the company to 100%.
Read: OPAP: Share price at €0.76 – Approval of gross dividend distribution of €503.1 million
OPAP and Stoiximan will continue to operate independently, as companies with distinct licenses, brands and management teams. Additionally, as announced, Stoiximan will continue to be supported by Kaizen Gaming through cutting-edge technology and differentiated product offerings. The completion of the transaction is subject to approval from Cypriot regulatory authorities and is expected to be finalized within the third quarter of 2025.
The investment further strengthens OPAP’s leading position in Greece and Cyprus while simultaneously reinforcing its strategic focus on the online sports betting and iGaming market. It should be noted that OPAP initially invested in Stoiximan in 2018, recognizing its strong growth prospects, and gradually increased its share through two additional transactions in 2020.
“I am particularly satisfied”
Jan Karas, Chairman and CEO of OPAP, commented: “The investment in Stoiximan has significantly contributed to establishing OPAP’s leading position in the Greek and Cypriot online markets. I am therefore particularly satisfied with this recent transaction, which further expands our footprint in the rapidly growing online market.”
“Looking ahead, we are confident that our dual strategy will remain effective and that both our brands, Stoiximan and PameStoixima.gr, will maintain their growth momentum,” he added.
“With dedication and passion”
Nikos Flingos, CEO of Stoiximan, emphasized: “This milestone marks a new chapter in Stoiximan’s journey.”
“With the dedication and passion of our team of 300 people, who are the driving force behind our leading market position, we remain absolutely committed to providing exceptional customer experiences while shaping the future of online gaming in Greece and Cyprus,” he added.
