OPAP to acquire majority interest in GML Interactive

News on 7 Jan 2019

OPAP S.A. subsidiary OPAP Investment Ltd has agreed to acquire 51 percent of Stoiximan Group’s Greek and Cypriot operations under GML Interactive Ltd (‘GML’), a 100 percent subsidiary of TCB Holdings Ltd (TCB), for a total consideration of Euro 94.86 million, plus net cash as of the closing date.

“Stoiximan Group generated revenues of Euros 136 million and EBITDA of c. Euros 16 million in 2017. Revenues increased further in the first 11 months of 2018 (+30% y-o-y), demonstrating significant growth across all jurisdictions, while the active customers’ base has also climbed by 29% vs. 2017,” a press statement reads.

“Stoiximan’s strategy remains focused on strengthening its position in the domestic market and intensifying  its technology orientation, while at the same time actively pursuing further expansion.”

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