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OPAP Waits For Approval To Acquire Stoiximan Group

It took some time, but finally, OPAP (a Greek company that organizes and conducts the games of chance) got the approval of Greece’s market and competition authority HCC for purchasing stakes in Stoiximan Group. Stoiximan Group is an online sportsbook property operated by Malta-based GML Interactive. OPAP has been allowed to purchase a 51% stake in Stoiximan and for that venture, they will pay €95 million.

OPAP Investments, the company’s subsidiary will maintain the stake and it will so-share ownership of the Maltese sportsbook with enterprise investors TCB Holding.

Before completing this transaction, OPAP already had some shares owned in Stoiximan. The company secured a 37% stake in 2018 for €50 million.

HCC was obliged to review and monitor OPAP’s investments in Stoiximan because of Greece’s recent decision to change gambling regulations in the country.

In order to finally complete this deal, OPAP will need to get approval from Cyprus’s Competition and Consumer Protection Authority.

Source: https://europeangaming.eu/portal/latest-news/2019/11/06/58081/opap-obtains-permission-in-greece-to-acquire-stoiximan/

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Aleksandar Krstic

Aleksandar Krstic

A bachelor of journalism, he spent most of the time of his ongoing career as a custom content creator. Experienced in reporting and information gathering, after finishing his contract in a local news agency, Aleksandar began writing for clients outside his native country. Fluent in English, he wrote various types of content, his work ranging from affiliate articles to news reports and creative stories. Aleksandar spent most of his time writing extensively on a myriad of topics, including history, science, technology, esports, culture (both traditional and modern) and arts.

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