xrimatistirio.com
ELEN
Διαθέσιμο και στα ελληνικά. Δες το στα ελληνικά →
← Back to dashboard
ALWNConsumer Cyclical · Gambling · ΧΑ

Allwyn (ex-OPAP)

€11.10
−0.53(−4.52%)
Close 26/10/2026 · end-of-day price, not real-time

Allwyn (ex-OPAP) (ALWN) closed at €11.10 on 26/10/2026, -4.52% on the day. Market cap €8.6bn, P/E 8.2, dividend yield 6.31% (13.51% with a one-off).

Why it moved on Mon 26 Oct

Allwyn fell 4.52%, reportedly because of Lula's re-election in Brazil, according to the press, while the wider market rose.

Source: businessdaily.gr · 26/10/2026

Announcements to the exchange

My view
Private · MENTOR takes it into account
−15.7%6M
Drag sideways across the chart to pick a period, or click an event's dot below it, then ask MENTOR about it.
26/10/2026Close 11.10−4.52%−15.7% since start

Key statistics

FY2025 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€8.6bn
Enterprise valueDec 2025est.
€8.8bn

leases included

Shares outstandingOct 2026
771m
RevenueFY2025
€2.4bn
Employees
8,000
Free float
20.8%
Traded a day, 3-month average
€9.4m

Valuation

FY2025
P/E
8.2×
P/B
20.2×
EV/Salesest.
3.6×
EV/EBITDAest.
10.7×

5 years, on reported full years: 10.9–31.6×, median 17.4×. Today 10.7×, lower than 100% of months.

P/FCF
12.8×
Dividend yield
13.5%

Margins

FY2025
Gross
—

its accounts show no gross profit

EBITDAest.
34.2%
Operating (EBIT)
28.4%
Pre-tax
27.7%
Net
20.1%
Free cash flow
27.8%

Net margin = the shareholders' profit ÷ group revenue.

Returns

FY2025
ROE
96.4%
ROCEunder review
108.7%
ROICest.
79.9%
ROA
22.5%
ROE, 5-year averageFY2021–25
61.6%
Tax rate
26.5%
Profit to minority holders
1.6%

Financial health

Dec 2025
Cash
€767m
Net debtest.
€201.6m

leases included

Net debt ÷ EBITDA
0.25×

leases included

Debt ÷ equity
226.7%

leases included

Interest coverFY2025
44.5×

Growth

Revenue, last yearFY2025
+4.9%
EPS, last yearFY2025
+0.4%
Revenue, 3 yearsFY2022–25, a year
+7.5%
Revenue, 5 yearsFY2020–25, a year
+16.3%
EPS, 3 yearsFY2022–25, a year
−6.9%

Dividends

Yield, last 12 months
13.5%

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
−33.0%
3 years, a year
−0.9%
5 years, a year
+6.1%
10 years, a year
+13.4%
Volatility, 1 year
30.8%
Beta to the General Index
0.78×
Deepest fall, 1 year / 5 years
−38.8% / −41.8%
52-week range
€11.08–€19.10
est.worked out by usread with care: tap for why

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

vs BYLOT
MetricALWNBYLOT
P/Enew perimeter8.2—
P/B20.21.6
P/Snew perimeter3.6—
EV/EBITDAnew perimeter10.7—
Dividend yield6.3%1.5%
Gross margin—36.8%
Operating margin28.4%12.3%
Net margin20.1%−9.0%
ROE96.4%−6.2%
Revenue growth (last full year)4.9%34.8%
Net debt€201.6m€1.6bn
Twelve Data · latest quarter 31/12/2025

Peers: Gaming

EV/EBITDADay
Allwyn (ex-OPAP)ALWN10.7−4.5%
Bally's (ex-Intralot)BYLOT13.5+0.1%
Compare in depth

The company

AI-drafted

Allwyn AG, formerly OPAP, is a multi-national gambling group headquartered in Lucerne and listed on the Athens Exchange. It runs lotteries, sports betting, iGaming and daily fantasy sports in Greece and Cyprus, Austria, the Czech Republic, Italy, the United Kingdom and the United States, mostly under exclusive licences. KKCG, Karel Komarek's group, controls it. A temporary Brazilian online gaming ban affects its Betano stake and 2026 margin guidance.

How it makes moneyH1 2026 · basis: revenue
  • Continental Europe158.4%
  • United Kingdom131.2%
  • North America110.4%
  • Betano1(36.75% equity-accounted stake, no revenue consolidated)share n/a
It is
  • A multi-national lottery and gaming operator that earns the margin between stakes and prizes, mostly under exclusive state concessions in seven markets.1,3
  • A Swiss company, registered in Lucerne since 29 May 2026, whose shares remain listed on the Athens Exchange under ALWN with the Greek ISIN GRS419003009.1,4
It is not
  • No longer the Greek-only OPAP. Greece produced 36.7% of H1 2026 revenue; the rest came from the United Kingdom, the United States, Austria, the Czech Republic and Cyprus.1
  • Does not own Betano outright. It holds 36.75% of Kaizen Gaming International and books only its share of net income, not Betano's revenue.1,2
  • Not the low-leverage business OPAP was. Net debt including leases was €6,659m at 30 June 2026, 3.5x pro forma Adjusted EBITDA.1,2
Recent developmentsAll company events →
  • Oct 2026The €0.20 interim announced in August went ex-entitlement on 21 October (record date 22 October); treasury-share scrip elections close 5 November and payment is 12 November. Q3 results are due 19 November before market open, call at 15:00 CET.2,8,9
  • Sep 2026A temporary Brazilian online betting and iGaming prohibition affects Betano and Allwyn’s margin guidance.7
  • Jul 2026Agreed to raise its stake in Germany's Next Lotto to 64.53% for €16m.2
  • Jun 2026The board approved a share buyback programme of up to €150m.2
  • May 2026The statutory seat moved from Luxembourg to Switzerland on 29 May.1
  • Apr 2026€456m was paid to shareholders exercising the cash exit right, and €0.80 per share was distributed, €583m of it in cash.1
Key figures
  • Gross gaming revenue (GGR) €3,026m H1 20261
  • Adjusted EBITDA, LTM pro forma €1,879m LTM Q2 20263
  • Adjusted EBITDA margin on Net Revenue 36.8% Q2 20262
  • Online share of net gaming revenue 52% Q2 20262
  • Net debt including leases to Adjusted EBITDA 3.5x 2026-06-302
Key facts
  • KKCG and its parent Valea Foundation together hold 79.74% of outstanding shares at 15 October 2026; free float is 20.26%.6
  • OPAP converted into a Luxembourg company in March 2026, was renamed Allwyn AG and moved its seat to Switzerland on 29 May 2026, keeping its Athens listing.1
  • The policy is a minimum annual distribution of €1.00 per share; a €0.20 interim for 2026 is payable on 12 November 2026, with cash or treasury-share scrip elections closing 5 November.2,8
  • Eleven exclusive licences produce 62% of net gaming revenue, expiring between 2027 (Austria, Illinois) and 2039 (Cyprus numerical lotteries).3
  • The Greek network comprised 2,964 OPAP Stores, 350 PLAY halls and 4,436 independent points of sale at end-2025.5
AI-drafted from the cited sources · 26/10/2026 · v5 · ✓ checked by an independent second modelAllwyn AGWebsite ↗
MENTORFree beta
Why it moved
-4.52% · volume 1.3×
News & events
News and what's next
Peers
No listed peers
Results
How it did vs last year
Valuation
No listed peers
More
Asks“Why did Allwyn (ex-OPAP) fall 4.52%?”
Data: Twelve Data · End-of-day prices · Nothing here is investment advice.