The investment in Novibet is expected to be completed in the second half of 2025, following receipt of all relevant legal and regulatory approvals
Agreement for the acquisition of a 51% stake in Logflex MT Holding Limited, the owner of Novibeta growing online sports betting and gaming group, subject to customary regulatory and antitrust approvals, has been entered into by Allwyn, a multinational lottery provider.
As stated in a related announcement, Novibet is an established provider of games of chance, which has developed its own proprietary technologies, employs more than 1,000 workers in its business centers in Malta, Greece and Brazil and has a presence in the markets of Brazil, Cyprus, Greece, Ireland and Mexico, among others.
Novibet’s dynamic customer proposition is supported by its focus on leading product innovations, data-driven product propositions, speed and scalability of its infrastructure, local content and responsible gaming.
The acquisition of Novibet by Allwyn strengthens the group’s technological capabilities, as well as its capabilities in the online sports betting and online gaming markets. At the same time, it comes as a continuation of Allwyn’s strategy of selective acquisitions in related product, technology and content industries, with the aim of supporting its growth. Building on this strategy, earlier this year Allwyn acquired a majority stake in Instant Win Gaming, a leading global lottery eInstants provider.
In the same announcement, it is pointed out that the catalyst for Novibet’s success is its founding management team, which will continue to lead the company’s activities after the transaction is completed. Novibet will continue to operate as a separate company, under its existing brand and management team.
The investment in Novibet is expected to be completed in the second half of 2025, following receipt of all relevant legal and regulatory approvals. The estimated initial price is €217 million in cash (subject to customary closing adjustments), as well as an additional up to €110 million, corresponding to potential future performance-based earnouts.
Robert Chvatal, CEO of Allwynstated: “Novibet has demonstrated expansion into multiple markets and an ability to innovate, which will strengthen our momentum and enhance our customer proposition.
The innovation potential associated with this transaction is significant as our goal is to offer our customers access to the best online sports betting and online gaming experience. Novibet has a world-class team and we look forward to taking advantage of the opportunities that open up before us internationally.”
George Athanasopoulos, CEO of Novibetadded: “Our joining Allwyn marks the start of an exciting new chapter for Novibet. Allwyn’s focus on growth opportunities was a key factor in our decision and we look forward to combining its extensive resources and expertise with our leading technology and operational experience. This partnership will accelerate our ability to develop proprietary solutions, expand our product offerings and amplify our success to a much larger international audience, at a faster pace. We also want to acknowledge the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been integral to achieving this milestone. With their continued support, we remain committed to delivering particularly high value to both our customers and our shareholders.”
Source: Skai
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