Allwyn, a leading multi-national lottery operator, announces that it has entered into an agreement to acquire a 51% stake in Logflex MT Holding Limited, the owner of the growing online sports betting and gaming group Novibet, subject to customary regulatory and antitrust approvals.
Novibet is an established gaming operator with its own technology stack, which has more than 1,000 employees across hubs in Malta, Greece and Brazil and a market presence in Brazil, Cyprus, Greece, Ireland, and Mexico, among other markets. Novibet’s strong customer proposition is supported by its focus on superior product innovation, a data-driven offering, the speed and scalability of its infrastructure, localised content and responsible gaming.
Allwyn’s acquisition of Novibet enhances the group’s technological capabilities as well as strengthening its capabilities in the online sports betting and gaming markets, continuing Allwyn’s strategy of making selective acquisitions in relevant products, technologies and content to support its growth. In line with this strategy, earlier this year, Allwyn acquired a majority stake in Instant Win Gaming, a leading provider of eInstants to lotteries worldwide.
The success of Novibet has been driven by its founding management team, who will remain in charge of operating the business after the transaction has completed. Novibet will continue to operate as a separate business, under its existing brand and management team.
The investment in Novibet is anticipated to close in the second half of 2025 after receipt of all relevant legal and regulatory approvals, with an estimated initial cash consideration of €217 million (subject to customary closing adjustments), plus up to €110 million in potential future earnouts based on performance.
Robert Chvatal, CEO of Allwyn, said: ”Novibet has demonstrated expansion across multiple markets, and an ability to innovate, which will strengthen our momentum and enhance our offer to players.
“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.”
George Athanasopoulos, CEO of Novibet, added: “Joining Allwyn marks the start of an exciting new chapter for 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. With their continued support, we remain committed to delivering exceptional value for both our customers and our shareholders.”
