In a significant move to strengthen its foothold in the online gaming and sports betting sector, Allwyn International has announced the acquisition of a 51% stake in Novibet. This strategic investment, worth €327 million, underscores Allwyn’s commitment to expanding its capabilities and market reach across Europe and South America.
A Strategic Investment: Deal Overview
Allwyn International’s acquisition of Novibet involves a €217 million cash consideration and €110 million in future performance earnouts. These financial arrangements highlight the company’s long-term growth strategy and confidence in Novibet’s market potential.
The deal was structured to enhance Allwyn’s technological resources and operational capabilities. With Novibet’s team of 1,000 professionals and its established market presence in countries like Greece, Cyprus, Brazil, Ireland, and Mexico, the acquisition is set to bolster Allwyn’s global operations significantly.
Strengthening Technological and Operational Expertise
One of the key drivers behind this acquisition is the opportunity to integrate Novibet’s advanced technologies and operational efficiencies into Allwyn’s framework. With Novibet’s hubs located in Malta, Greece, and Brazil, the company brings not only regional expertise but also cutting-edge solutions that complement Allwyn’s existing portfolio.
The acquisition aligns with Allwyn’s overarching strategy to make selective investments in innovative products, technologies, and content to fuel growth and provide enhanced offerings to its customers.
CEO Statements: Vision and Growth Potential
Robert Chvatal, Group CEO of Allwyn, emphasized the strategic importance of the acquisition:
“Novibet has demonstrated its ability to expand across multiple markets and innovate, which will strengthen our momentum and enhance our offer to players. The innovation potential of this transaction is substantial as we look to provide our customers with the very best experience in online sports betting and gaming.”
George Athanasopoulos, CEO of Novibet, echoed these sentiments, stating:
“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.”
Novibet’s Journey and Market Presence
Founded in 2010, Novibet has grown to become Greece’s second-largest online gambling group. The company has steadily expanded its presence in regulated markets such as Italy, Malta, and Ireland, with further aspirations to enter Romania, Hungary, France, and Spain.
Novibet’s management team has been instrumental in its growth, and this acquisition ensures continuity. The company will operate as a separate entity under its existing brand and management team, preserving its operational independence while leveraging Allwyn’s extensive resources.
A Transformative Year for Allwyn
2024 has been a landmark year for Allwyn. Earlier in February, its UK subsidiary took over as the operator of the National Lottery, succeeding Camelot UK. The year also saw Allwyn acquiring a 70% stake in Instant Win Gaming (IWG), a leading developer of online games for North American lotteries. These moves reflect Allwyn’s proactive approach to expanding its gaming resources and intellectual property globally.
The Future of iGaming with Allwyn and Novibet
This acquisition not only enhances Allwyn’s technological and operational capabilities but also reinforces its position as a key player in the iGaming industry. The collaboration promises to deliver innovative proprietary solutions, expand product offerings, and accelerate growth in emerging markets.
By combining Allwyn’s extensive resources and Novibet’s expertise, the partnership is poised to offer exceptional value to customers and shareholders alike, paving the way for substantial international growth.
FAQs
1. What is the significance of Allwyn acquiring Novibet?
The acquisition strengthens Allwyn’s iGaming and online sports betting capabilities, expands its market reach, and integrates Novibet’s advanced technologies and operational expertise.
2. How will Novibet operate after the acquisition?
Novibet will continue to operate as a separate entity under its existing brand and management team, ensuring operational independence while leveraging Allwyn’s resources.
3. What markets does Novibet currently serve?
Novibet has a presence in Greece, Cyprus, Brazil, Ireland, and Mexico, with plans to expand into Romania, Hungary, France, and Spain.
4. What was Allwyn’s key achievement in 2024?
In 2024, Allwyn became the operator of the UK’s National Lottery and acquired a 70% stake in Instant Win Gaming, strengthening its position in global lotteries and online gaming.
5. Why is this acquisition a game-changer for Allwyn?
The acquisition combines Allwyn’s global reach with Novibet’s technological innovation, enabling both companies to deliver exceptional gaming experiences and tap into new markets.
