Tipico Group has agreed to acquire a 100 per cent stake in the parent company of Novomatic’s Admiral Austria company to boost its gaming and betting reach.
The deal for Atlas Group will see Tipico strengthen its position in Austria and expand its portfolio.
“For 20 years, Tipico has stood for state-of-the-art technology, innovative products and consumer protection,” said Tipico Group CEO Axel Hefer.
“We are pleased to have found in Admiral a partner who shares these same values and we look forward to a successful future in the Austrian sports betting and gaming market.”
Novomatic executive board member, Stefan Krenn, said the move will allow the business to focus on international growth markets and “drive further global expansion.”
“In Tipico, we found a highly professional and reliable partner who will continue to operate Admiral in Austria successfully and sustainably,” Krenn added.
