Allwyn and Novibet deal falls through following feedback from the competition watchdog

Allwyn and Novibet have announced an update on their planned acquisition deal, with the companies withdrawing their submission for review by the Hellenic Competition Commission (HCC), following feedback from the regulator.

In a terse statement shared on Allwyn’s website, the company said that its planned acquisition of Logflex MT Holding Limited - the Novibet parent company- is no longer going to proceed, citing a lack of sufficient shareholder value in light of the latest remarks shared by the regulator.

Allwyn says shareholder value makes it rethink Novibet deal

"While Allwyn and Logflex MT Holding set out carefully considered proposals to the HCC, Allwyn is committed to only pursuing transactions that would deliver clear value for shareholders.

Allwyn and Logflex MT Holding, therefore, no longer expect the previously announced transaction to proceed."

The HCC found out that by acquiring Novibet, Allwyn would gain a dominant position in the online betting and gaming market.

The transaction was originally announced in December 2024, with Allwyn agreeing to acquire a 51% stake in the parent company for a total sum of €217m, along with a further payment of €110m that would have been based on performance bonuses.

Novibet was an attractive target for Allwyn, as it had substantial operations across Europe and Latin America, with the company looking to expand into both respective markets, leveraging the firm’s brand presence locally.

Company remains focused on M&As with a strategic focus

Should the transaction have proceeded, Novibet would have been run as an independent business.

With the Novibet transaction now falling through, Allwyn is more likely to focus on other merger and acquisition pushes this year.

Allwyn also confirmed a $1.6bn buyout of PrizePicks, a US-based daily fantasy sports platform, acquiring 62.3% of the website, and thus scaling its ambitions in the North American market. The deal was confirmed in December 2025.

PrizePicks is expanding into prediction markets, which Allwyn sees as an important vertical to establish a presence in early on, despite regulatory setbacks in Nevada and other US jurisdictions.

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