GamblersPost Gamblers Post is a dedicated news and networking portal in the online gambling industry which features news, opinions, interviews as well as product and software reviews.
The Hellenic Competition Commission (HCC) has given its approval to OPAP’s pending acquisition of majority stake in online bookmaker Stoiximan Group.
OPAP is going to acquire a 51 per cent stake in Stoiximan for €95 million, a Greek and Cypriot online sportsbook property operated by Malta-based European online gambling group GML Interactive.
Prior to the transaction initiated at the start of 2019, OPAP had maintained 37 per cent stake in Stoiximan secured through a €50 million investment undertaken in 2018.
HCC had been forced to reviewed OPAP’s increased investment in Stoiximan because of local anti-trust conditions and competition criteria as Greece seeks to implement a new gambling regulatory framework. The acquisition still requires approval from Cyprus’s Competition and Consumer Protection authority.
OPAP secures its Stoiximan approval, as the Athens-listed operator sees itself targeted by Czech gambling and lottery SAZKA Group who last week upped its shareholding in the Greek company from 33 per cent to to 40 per cent.
