OPSAZKA Group’s Greek and Cypriot subsidiary, has announced the receipt of regulatory approvals for its previously announced acquisition of 51% of Stoiximan Group’s Greek and Cypriot business and the acquisition (subject to regulatory approvals of a further stake in SMGC as a result of which OPAP will have a total shareholding of 85% in and sole control of SMGC.

Robert Chvatal, SAZKA Group CEO, commented: “Today marks an important step forward for SAZKA Group and for OPAP, as OPAP gains a leading market position in yet another gaming vertical. OPAP, with SAZKA Group’s support, has achieved a milestone that will significantly strengthen its position in the online sports-betting market.

In recent weeks, we have been working in anything but a standard business environment. And yet under these extraordinary circumstances our joint teams brought this transaction to fruition. Here my thanks must go specifically to the management team led by Mr. George Daskalakis”.

In 2019, Stoiximan Group (under the parent company TCB) generated revenues (GGR) of €245 million and EBITDA of €38 million. SMGC generated revenues (GGR) of €197 million, corresponding to 80% of Stoiximan Group’s total revenues, and EBITDA of 44 million.