Latest News
Sale of OPAP’s Minority Interest in the Betano Business

OPAP S.A. has announced that its 100% subsidiary, OPAP Investment Limited (OPAP Investment) has executed a share purchase agreement with Rubidium Holding 2 Ltd, a fully owned indirect subsidiary of SAZKA Group a.s., for the sale of its 36.75% minority interest in the business activities of Kaizen Gaming Limited (KGL) outside Greece and Cyprus (the Betano Business).
The purchase price comprises:
- an upfront cash consideration of €50m, on a debt free and cash free basis; and
- performance based earnout payments for financial years 2022, 2023 and 2024, to be paid in 2023, 2024 and 2025, respectively.
The purchase price corresponds to the fair market value of OPAP Investment’s 36.75% interest in the Betano Business, as such has been evaluated by an independent financial advisor. The Betano Business has been accounted under the equity method and contributed EBITDA losses of €0.4m in OPAP’s FY 2021 financial results.
The announced transaction reflects OPAP’s strategic focus on maintaining and strengthening its leading position in the Greek and Cypriot online gaming markets.
The closing of the transaction is conditional primarily upon (i) the receipt of all regulatory approvals required, and (ii) the corporate separation of the Betano Business from KGL’s business activities in Greece and Cyprus (represented by its remaining stake in Stoiximan Ltd).
OPAP will retain its 84.49 % combined stake and sole control over Stoiximan Limited and its online gaming business in Greece and Cyprus under the brand “Stoiximan”.
-
Asia7 days ago
SA Gaming is thrilled to announce the launch of Fish Prawn Crab
-
Asia7 days ago
Team Zero Gravity Triumphs in Indus International Tournament Powerplay, Secures Spot in LAN Finale
-
Latest News7 days ago
Thunderkick partners with Veikkaus for Finnish market entry
-
eSports5 days ago
Esports World Cup Foundation Confirms Full Game Lineup, Schedule, and Club Championship Rules for EWC 2025
-
Australia7 days ago
Martin Pakula Named Chair of Crown Melbourne
-
Asia7 days ago
DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards
-
Latest News7 days ago
Serving Them Up: How Player Wealth Scores Can Power More Intelligent In-Play Betting
-
Latest News5 days ago
Midnite creates free limited-edition beer for fans to enjoy at World Snooker Championship