With its merger now formally concluded, OPAP Holding S.A. has entered a new chapter as an integrated part of the Allwyn international network. The confirmation of the new voting rights structure, effective since March 24, 2026, signals the end of the administrative phase for this corporate combination. Investor attention has swiftly shifted to a forthcoming capital return.
Solid Financials Underpin Planned Distribution
The company has confirmed a special dividend of €0.80 per share, scheduled for payment before June 19, 2026. This date coincides with the expiration of futures contracts linked to the OPAP share and the FTSE/ATHEX Large Cap Index. This one-time payment will bring the total distribution for the 2025 financial year to €1.30 per share, following an interim dividend of €0.50 paid in November 2025.
Final dates for the record and payment are pending, contingent upon the completion of the firm’s redomiciliation to Luxembourg and subsequent board approval. The financial capacity for this payout is supported by a robust 2025 performance. Gross gaming revenue climbed 4.9% to a record €2.4 billion. Net profit remained stable at €483.4 million, with the online segment emerging as a key growth driver, contributing approximately 32% of total revenue.
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Share Price Performance Lags Fundamentals
Despite this operational strength, the equity has faced significant pressure in the market. The stock currently trades at a new 52-week low of €13.40, representing a decline of roughly 29% since the start of the year. This price level sits notably below the 50-day moving average of €16.03, highlighting persistent selling activity.
Market observers suggest the confirmation of the final dividend timetable, following the Luxembourg relocation, will likely serve as the next concrete catalyst for the share price. In the interim, focus remains on whether the anticipated technology synergies with Allwyn will yield visible results during the current business year.
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