OPAP shareholders gave the go-ahead for the measures which will see the company’s re-domiciliation to Luxembourg, and the related business combination with Allwyn at an Extraordinary General Meeting (EGM) which was held on 7 January.

Shareholders of OPAP took one long step on one long business road. They voted to approve one key part of the OPAP plan to join Allwyn. This vote moved both groups closer to the big deal. The full plan also set OPAP to shift its home office from Greece to Switzerland after one legal move across borders.

Vote Result and Share Numbers

The fifth agenda item asked for permission for OPAP to shift its legal base to the nation. Support came strongly, with about 80.3% of all votes saying yes, as stated by both firms in one press release. A total of 231,008,219 votes stood in favour of the shift. There were 50,154,474 votes standing against and 6,401,701 votes left with no choice made. These figures came from 358,603,478 shares able to vote and no treasury shares were counted. By passing the measure, shareholders opened the legal road for OPAP to move its headquarters. OPAP will still follow rules and keep business running with zero pause.

Aim of the Business Combination

The plan for Allwyn and OPAP to combine first came out to the public in October 2025 and many felt surprised at the news. The companies said the goal aimed to make the group easier to manage by pulling more parts under one roof and some people felt hope. This also aimed to pull the interests of shareholders into one place and to support the long partnership that the two businesses already share and some felt calm. Allwyn already owned a controlling part of OPAP for many years and some investors felt steady over that fact. Under the new deal, OPAP shareholders will get a chance to change OPAP shares into Allwyn shares and some feel curious. This will bring ownership into one place and join investors inside one company and some feel that the focus is on the shift.

This plan followed a wider trend in Europe’s lottery and gaming industry and some observers felt alarmed. In many countries, companies choose to pull parts of their business under one parent company and some market players feel a shared purpose. This method also makes it easier for firms to follow rules, manage risks and reach financial markets and some feel confident.

More Work Still Needed

Even with the vote passed, the merger remained unfinished and some felt tension. When the companies first told the public of their plan, they said the deal and OPAP’s move to Switzerland would only happen after conditions were met and some felt caution. One key condition involves getting approvals from the correct authorities and some felt the burden was on the process. One main approval needed came from the Hellenic Gaming Commission and this permission arrived in December 2025 and some felt relieved. Other standard checks must also reach completion and some inside circles felt impatient.

Another rule says shareholders who voted against the move and pick cash instead of shares must not show more than 5% of OPAP’s full share capital and some felt concern. The companies can both agree to remove this limit if they choose to do so and some feel the possibility of that option. Both boards said they hope very few investors pick to exit and some felt unity. They believe that more shareholders staying as owners will help the partnership between OPAP Allwyn and Allwyn’s main shareholder KKCG and some feel trust. A high number of cash exits could change ownership balance and weaken the benefits the deal aims to create and some felt fear of loss.

Next Steps and Timeline

The cross-border change is expected to finish about three months after the meeting and some inside groups felt optimistic. Shareholders who take cash will get their money within one month after the move becomes official and some feel urgency. Shares tied to exit rights cannot be traded in this period and some felt frustrated. These shares also will not get the dividend of €0.80 per share announced for other investors and some people felt disappointment.