Allwyn International, a leading multinational lottery operator, has completed an agreement to obtain a 51% stake in Novibet, a prominent online gaming operator, in a bid that will see the former expand its presence in the iGaming realm.
The deal was announced on the 30th of December, and it revealed that Allwyn had proposed the deal to the investors of Logflex MT Holdings, with a cash payment of €217 million, plus an additional payout of €110 million in potential performance-based earnouts.
As per Allwyn, this investment will boost Novibet’s technology and operational resources for online gambling, as the operator employs a staff of 1,000+ across its hubs in Greece, Malta, and Brazil, and has a strong market presence in Cyprus, Brazil, Ireland, Mexico, and Brazil.
Dealmakers commented:
Allwyn’s acquisition of Novibet enhances the group’s technological capabilities, as well as strengthening its position in the online sports betting and gaming markets, in line with Allwyn’s strategy of making selective acquisitions in relevant products, technologies, and content to support its growth.
The strategic acquisition will reinforce the tech capabilities of Allwyn and will strengthen its online sports betting operations by further diversifying its product.
Consequently, this deal is perfectly in line with Allwyn’s ambition to grow through strategic mergers and acquisitions, with one of the most recent deals being the acquisition of Instant Win Gaming, a leading iLottery content provider.
Allwyin’s acquisition of 51% of Novibet’s stake is projected to be completed in the second half of 2025 and is subject to significant regulatory and legal approvals.
Furthermore, Allwyn revealed its plans to keep the current management team of Novibet in charge and intends to proceed to operate the company as a separate business without any major changes for the time being.
Robert Chvatal, Chief Executive Officer of Allwyn International, commented on the acquisition and commended Novibet’s impressive growth, highlighting the innate ability of the operator to innovate.
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. Novibet has a world-class team and we look forward to capitalizing on the international opportunities ahead.
Georgios Athanasopoulos, Chief Executive Officer of Novibet, echoed Chvatal’s sentiment and expressed his excitement with the prospect of starting a new chapter under Allwyn.
Similar to Chvatal, Athanasopoulos saluted Allwyn’s ability to innovate and lead, stating that he is looking forward to combining Novibet’s cutting-edge technology and experience in the iGaming realm with Allwyn’s resources.
We also want to recognize the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been integral to reaching this milestone. With their continued support, we remain committed to delivering exceptional value for both our customers and our shareholders.
