Global lottery and casual gaming operator, Allwyn, has agreed to acquire a 51% majority stake in Logflex MT Holding Limited, owner of sports betting and iGaming group, Novibet.
Allwyn will pay an initial €217m ($225m) in cash, potentially followed by a further €110m in future earnouts dependent upon Novibet’s performance.
Subject to legal and regulatory approvals, the acquisition is expected to close in the second half of 2025.
Novibet operates out of Malta, Greece and Brazil and is currently active in markets including Brazil, Cyprus, Greece, Ireland and Mexico. The business will continue to operate under its existing brand and with the founding management team at the helm.
Robert Chvatal, CEO of Allwyn, says: ”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, adds: “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.”
