A Allwyn, a leading multinational lottery operator, announces that it has signed an agreement to acquire a 51% stake in Logflex MT Holding Limited, owner of the growing online sports betting and gaming group Novibet, subject to customary regulatory and antitrust approvals. The deal involves cash figures of €217 million (subject to customary closing adjustments), plus up to €110 million in potential future earnings based on performance.
Novibet is an established gaming operator with its own set of technology, which has more than 1,000 employees in centers in Malta, Greece, and Brazil and a market presence in Brazil, Cyprus, Greece, Ireland, and Mexico, among other markets.
Novibet's strong customer proposition is supported by its focus on superior product innovation, a data-driven offering, the speed and scalability of its infrastructure, localized content, and responsible gaming.
The acquisition of Novibet by Allwyn enhances the group's technological capabilities, as well as strengthens its capabilities in the online sports betting and gaming markets, continuing Allwyn's strategy of making selective acquisitions in products, technologies, and content relevant to support its growth.
In line with this strategy, at the beginning of 2024, Allwyn acquired a majority stake in Instant Win Gaming, a leading provider of eInstants for lotteries worldwide.
Novibet's success has been driven by its founding management team, which will remain responsible for the operation of the business after the transaction is completed. Novibet will continue to operate as a separate business, under its existing brand and management team.
The investment in Novibet is expected to close in the second half of 2025 after receiving all relevant legal and regulatory approvals, with an initial cash consideration estimated at €217 million (subject to customary closing adjustments), plus up to €110 million in potential future earnings based on performance.
Robert Chvatal, CEO of Allwyn, said: "Novibet has demonstrated expansion in multiple markets and the ability to innovate, which will strengthen our momentum and enhance our offering to players”.
"The potential for innovation in this transaction is substantial, as we seek to give our customers access to the best experience in online sports betting and gaming. Novibet has a world-class team and we look forward to capitalizing on international opportunities that lie ahead”.
George Athanasopoulos, CEO of Novibet, added: "Joining Allwyn marks the beginning of an exciting new chapter for Novibet. Allwyn's dedication to growth opportunities was a key factor in our decision, and we look forward to combining their extensive resources and experience with our leading technology and operational expertise”.
“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”, he reinforces.
“We also want to recognize the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision was essential to reaching this milestone. With their continued support, we remain committed to delivering exceptional value to both our customers and our shareholders”, he concludes.
Source: GMB
