Latest News

OPAP Obtains Permission in Greece to acquire Stoiximan

Published

5 years ago

November 6, 2019

George Miller

Merkur Gaming Names Matjaz Petek As New Senior Sales Manager International

Reading Time: < 1 minute

OPAP Obtains Permission in Greece to acquire Stoiximan Reading Time: 1 minute

OPAP has got the approval of Greece’s markets & competition authority HCC for acquiring a majority stake in online bookmaker Stoiximan Group.

OPAP is going to acquire a 51% stake in Stoiximan for €95 million, a Greek and Cypriot online sportsbook property operated by Malta-based European online gambling group GML Interactive.

The stake will be maintained by subsidiary ‘OPAP Investments’, who will co-share ownership of Stoiximan with enterprise investors TCB Holdings.

Prior to the transaction, OPAP had maintained 37% stake in Stoiximan secured through a €50 million investment undertaken in 2018.

HCC had been forced to reviewed OPAP’s increased investment in Stoiximan, carrying out due diligence on anti-trust conditions and competition criteria as Greece seeks to implement a new gambling regulatory framework.

Seeking to complete its investment, OPAP governance will require approval from Cyprus’s Competition and Consumer Protection authority.

Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: OPAP Obtains Permission in Greece to acquire Stoiximan

Related Topics:

Up Next

Hard Rock Introduces The Game Plan Challenge

Don't Miss

Rank Group Ropes in Karen Whitworth to Its Board as Non-Executive Director

George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.