Novomatic has completed the sale of its Admiral business in Austria to rival betting and gaming operator Tipico.
The agreement to sell Admiral Austria was first announced in January as part of Novomatic’s strategy to focus on international growth markets.
Admiral Austria offers sports betting through a retail network of more than 200 branches in Austria, as well as on betting terminals at more than 100 franchise partners and online via Admiral.at.
The business also offers gaming on more than 2,000 gaming machines in Austria.
“The completion of this transaction marks an important step in our global expansion strategy with a clear focus on international growth markets,” said Novomatic director Stefan Krenn.
“Admiral has developed into an established market leader over the past decades, and we thank all Admiral employees for their great commitment. We are pleased to have found a strong and reliable technology partner in Tipico, who will successfully continue the company’s operations in Austria.”
The financial details of the transaction have not been disclosed.
Axel Hefer, CEO of Tipico Group, commented: “We are delighted about the successful completion of this transaction. Admiral is a leading Austrian company with a strong legacy, and clear potential for future growth.
“Both companies are synonymous with state-of-the-art technology, innovative products and a high focus to player protection. Our future collaboration is very good news for our customers.”
The sale of the Austrian business comes as Novomatic steps up its effort to take full ownership of Australian gaming supplier Ainsworth. It also follows Novomatic’s recent acquisition of French casino operator Vikings Casinos.