Austrian gaming giant Novomatic will focus on building its presence in the lottery industry following the acquisition of a 90 per cent stake in Icelandic online gaming software developer Betware.

Through its subsidiary Novo Lottery Solutions GmbH, Novomatic has acquired a 90 per cent majority shareholding in Betware. The remaining 10 per cent will be retained by Betware management. No financial details have been divulged.

Novomatic said that Betware’s offering will complement its product portfolio and provide a “bridge into the lottery world”.

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