Allwyn International is expanding its brand portfolio with the acquisition of a majority stake in online betting and gaming operator Novibet.
The transaction gives Allwyn a 51 per cent stake in Logflex MT Holding, operator of the Novibet brand, for an initial cash consideration of €217 million.
The deal also includes an additional potential earnout of up to €110 million, subject to the future performance of the business.
Novibet employs more than 1,000 people across its locations in Malta, Greece and Brazil and will continue to operate as a separate business under its existing management team.
“Novibet has demonstrated expansion across multiple markets, and an ability to innovate, which will strengthen our momentum and enhance our offer to players,” said Allwyn chief executive Robert Chvatal.
“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 capitalising on the international opportunities ahead.”
The transaction is expected to complete in the second half of 2025, subject to receipt of all relevant legal and regulatory approvals.
“Joining Allwyn marks the start of an exciting new chapter for Novibet,” said George Athanasopoulos, CEO of Novibet. “Allwyn’s dedication to growth opportunities was a key factor in our decision, and we look forward to combining their extensive resources and expertise with our leading technology and operational experience.
“This partnership will accelerate our ability to develop proprietary solutions, expand our product offering, and extend our success to a much larger international audience at a faster pace. 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,” Athanasopoulos added.
“With their continued support, we remain committed to delivering exceptional value for both our customers and our shareholders.”
Allwyn operates lotteries in Austria, Czech Republic, Cyprus, Greece, Italy, United Kingdom and Illinois (USA), as well as online betting and gaming brands such as Stoiximan and win2day.