Czech lottery giant Allwyn has officially terminated its proposed €217 million acquisition of a 51% stake in Novibet.
The decision follows a rigorous review and significant feedback from the Hellenic Competition Commission (HCC) regarding the deal’s impact on the Greek iGaming and sportsbook market.
Regulatory Roadblocks in Greece
The HCC issued a Statement of Objections in late 2024, arguing that the merger would “significantly restrict effective competition” by reinforcing Allwyn’s already dominant position.
Regulators noted that Novibet was uniquely positioned as the only competitor capable of exerting substantial pressure on Allwyn and its subsidiary, OPAP, through aggressive pricing and superior user experience.
The company stated in a press release:
“While Allwyn and Logflex MT Holding Limited set out carefully considered proposals to the HCC, Allwyn is committed to only pursuing transactions that would deliver clear value for shareholders. Allwyn and Logflex MT Holding Limited therefore no longer expect the previously announced transaction to proceed”.
Market Implications
The termination of the acquisition of Novibet marks a rare setback for Allwyn, which holds exclusive licenses for numerical lotteries, land-based betting, and VLTs in Greece. Novibet, which was expected to command a 20% market share by 2025, remains an independent force in the region.
