Multinational lottery operator Allwyn is acquiring a majority stake in the Novibet parent company for an initial €217m as it looks to boost its presence in the online betting and gaming sector.
Allwyn could yet pay an extra €110m in potential future earnouts based on performance in the deal for Logflex MT Holding, which is set to complete in the second half of 2025.
“Novibet has demonstrated expansion across multiple markets, and an ability to innovate, which will strengthen our momentum and enhance our offer to players,” said Allwyn CEO Robert Chvatal.
Novibet, which has its own tech stack, has a market presence in jurisdictions such as Malta, Greece, Brazil, Ireland and Mexico.
“The innovation potential of this transaction is substantial as we look to give our customers access to the very best experience in online sports betting and gaming,” Chvatal added.
“Novibet has a world-class team and we look forward to capitalising on the international opportunities ahead.”
The management team of Novibet will remain in charge and the business will continue to operate as a separate company after the transaction completes.
“This partnership will accelerate our ability to develop proprietary solutions, expand our product offering and extend our success to a much larger international audience at a faster pace,” said Novibet CEO George Athanasopoulos.
Allwyn’s stake in Novibet follows its acquisition earlier this year of a majority stake in Instant Win Games, a supplier of e-instant games to lotteries.
