Allwyn acquires 51% stake in Novibet

Allwyn Entertainment, the company that took over the reins from Camelot as the UK National Lottery operator, replacing the incumbent for the first time since the lottery was incepted in 1994, has revealed a majority stake in Novibet.

Allwyn acquires Novibet to boost tech and reach

Allwyn, which is owned by Czech businessman Carrell Komarek, has purchased a 51% stake in Logflex MT Holding Limited, which operates the well-established online sports betting and gaming brand.

The deal is valued at €217m and is still subject to closing conditions. Novibet is a significant acquisition by virtue of its operational size and technological acumen. The company employs more than 1,000 people across multiple mostly European jurisdictions, including Malta, Greece, and Brazil.

Commenting on the acquisition, Allwyn CEO Robert Chvatal welcomed the move and commented on the deal’s importance for the firm. First, he hailed Novibet’s demonstrated track record in multiple markets and the opportunity to offer player-focused solutions, which will now be only enhanced.

"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," he added.

Other places where the company has a strong workforce include Mexico and Brazil, as well as Cyprus and Ireland. The brand is also associated with its own advanced technological stack. Allwyn will still have to undergo the customary closing conditions, as mentioned.

However, when the acquisition is complete, Allwyn will benefit from access to advanced technological solutions and see the company strengthen its international standing in the B2C online betting and casino markets.

Novibet to retain original brand identity under Allwyn umbrella

This is not the first time Allwyn has shown itself ready to push aggressively into such deals. The company also bought Instant Win Gaming earlier this year, buying the game maker in February, and following a similar acquisition model where Allwyn bought a 70% stake in the company, rather than buying the entire entity.

Back to Novibet, the brand is likely to retain its originality and identity. Novibet CEO George Athanasopoulos has welcomed the opportunity to see his company become a part of Allwyn’s umbrella and tap into its resources.

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