Allwyn looks to expand European presence with acquisition of Novibet

Operators of the National Lottery, Allwyn have announced their majority stake acquisition in Logflex MT Holding, the parent company of Novibet.

Allwyn will acquire a 51% stake in the company worth €217m (£180m), in cash, with potential earnouts up to €110m; based on performance metrics. The transaction is set to close in the second half of 2025; subject to approvals.

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Founded in 2010, Novibet is an operator, specialising in sports betting, that has licences all over the globe; covering areas such as: Brazil, Cyprus, Malta, Greece, Mexico and Ireland.

Despite having been acquired Novibet will continue to operate as normal, and will maintain its operational independence under its current management and brand. Allwyn has done this to ensure continuity in the business model and in customer relationships.

Earlier this year, Allwyn acquired a 70% stake in Instant Win Gaming which reflects the company’s efforts to expand and boost its portfolio. Additionally, in February the company succeeded Camelot when it came to operating the UK’s National Lottery, so 2024 has been an impressive year for Allwyn.

George Athanasopoulos, CEO of Novibet, commented: “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.”

Robert Chvatal, Allwyn CEO, 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.”