After the announcement of the agreement, the operator Tipico will acquire 100% of the shares of Atlas Group GmbH, the parent company of Novomatic AG's Austrian Admiral Group.
This latest announcement comes as the German company Tipico seeks to further strengthen its business in neighboring Austria. On the other side of the transaction, Novomatic has confirmed that the strategic sale of Austria's Admiral is part of the company's recent focus on an international business orientation strategy.
Although the two companies have reached an agreement, the transaction still requires approval from regulatory authorities.
For Tipico, this news was released after the operator announced in July that it had submitted a high-profile legal case to the European Court of Justice (ECJ). Additionally, the company appointed Axel Hefer as the new CEO in June, who initially joined Tipico as Chief Operating Officer in November 2023.
Hefer stated: "This agreement is an important milestone in Tipico's expansion strategy, aimed at further expanding our leading position in the German-speaking market and strengthening our position in Austria."
"For 20 years, Tipico has represented the most advanced technology, innovative products, and consumer protection. We are pleased to find a partner in Admiral Group that shares our values. We look forward to achieving success in the Austrian sports betting and gaming market."
Worth noting: Last summer, the LeoVegas Group acquired Tipico's US sports betting platform.
For Novomatic, this latest transaction was reached shortly after the company appointed a new CEO for its Dutch operations in September last year. The company also launched the Fazi Mega Pay machine in Colombia last year.
Stefan Krenn, a member of the Novomatic AG Executive Committee, also commented on the sale, stating: "We decided to sell Austria's Admiral Group to focus on international growth markets and further drive global expansion."
"In Tipico, we have found a highly professional and reliable partner who will continue to operate Admiral successfully and sustainably in Austria."
