Lottery operator Allwyn International AG has announced the sale of its casino operations in Germany and agreed to the sale of its Australian operations, which are under its subsidiary, Casinos Austria International, with €105 million ($122.7 million) in gross proceeds.
On July 1st, Allwyn finalized the sale of its operations in Germany, which included ten casinos located in Lower Saxony.
This transaction generated gross proceeds of €67.7 million ($78.7 million), consisting of a €15.2 million ($17.5 million) dividend paid in June prior to the sale and €52.5 million ($61.2 million) received in July. In 2024, the German casinos generated total revenue of €126.4 million ($147.5 million).
Additionally, on July 11th, the Group accepted a bid for its casino operations in Australia, specifically the Reef Hotel Casino complex in Cairns, held through the Reef Casino Trust (RCT), in which Allwyn owns a 42 percent stake.
The expected sale proceeds from this transaction are approximately €54 million ($62.8 million). This deal is structured as an off-market cash takeover bid for RCT, with completion anticipated in the first half of 2026, pending acceptance by at least 80 percent of RCT unitholders and regulatory approvals. In 2024, Allwyn’s share of net income from RCT was €2.4 million ($2.8 million).
Allwyn operates lottery brands across Europe in Austria, Czech Republic, Greece and Cyprus, Italy, the United Kingdom, and the United States (Illinois).
Acquisition of Remaining Minority Interest in Stoiximan
On July 18th, Allwyn’s subsidiary OPAP S.A., which operates in Greece and Cyprus, announced the acquisition of the remaining 15.51 percent stake in Stoiximan from its founder-shareholders for €191.6 million ($224.5 million), on a cash-free, debt-free basis, with adjustments for net cash at closing. OPAP initially acquired an interest in Stoiximan in 2018 and subsequently increased its stake to 84.49 percent through two prior acquisitions. Stoiximan has shown strong top-line growth, achieving a 27 percent increase in gross gaming revenue (GGR) in 2024.
With this transaction, OPAP will fully own Stoiximan, aligning with Allwyn’s strategy to increase its holdings in existing operations. This acquisition enhances Allwyn’s exposure to the rapidly growing online sports betting and iGaming sectors, which complement the Group’s stable lottery operations.
The acquisition will be financed using OPAP’s cash resources and liquidity facilities, with completion expected in the third quarter of 2025, subject to approval from the Cypriot regulatory authorities.
