Tipico Group has entered into an agreement with Novomatic to acquire ATLAS Group, which owns ADMIRAL Group in Austria.
The acquisition further strengthens Tipico’s position in the German-speaking market, where the company currently operates more than 1,000 betting shops across Germany and Austria, while enabling Novomatic to focus on international growth markets.
“This agreement is an important milestone in Tipico’s expansion strategy to further broaden our leading role in the German-speaking market and strengthen our position in Austria,” said Tipico Group CEO Axel Hefer. “For 20 years, Tipico has stood for state-of-the-art technology, innovative products, and consumer protection.
“We are pleased to have found in the ADMIRAL Group a partner who shares these same values. We look forward to a successful future in the Austrian sports betting and gaming market.”
Established in 1991, ADMIRAL offers sports betting across its retail network of more than 200 branches in Austria, on betting terminals at more than 100 franchise partners, as well as online via Admiral.at.
ADMIRAL also has over 150 locations that host more than 2,200 gaming machines in the federal states of Lower Austria, Burgenland, Upper Austria, Styria and Carinthia.
“We have decided to sell the ADMIRAL Group in Austria in order to focus on international growth markets and drive further global expansion,” said Stefan Krenn, member of the executive board at Novomatic. “In Tipico, we found a highly professional and reliable partner who will continue to operate ADMIRAL in Austria successfully and sustainably.”
The agreement is subject to certain closing conditions, including receipt of regulatory approvals.