Tipico sets to acquire Admiral Austria from Novomatic

Novomatic, a leading supplier of innovative online casino content, has signed an agreement with Tipico Group on the sale of its 100% stake in ATLAS Group, the parent company of ADMIRAL Group in Austria, an official press statement revealed.

Tipico seeks to make a splash in another German-speaking market

Tipico Group is looking to acquire a 100% stake in Atlas Group, with no further financial details about the deal provided. The deal sees Tipico further solidify its presence across Europe, and specifically in German-speaking countries.

Once the deal is finalized, still subject of pending regulatory approvals, it would allow Tipico to expand into Austria with the Admiral Sportwetten brand, which already has a strong online presence, along with 200 physical locations in the country.

For its part, Novomatic has enacted the transaction as part of its global strategy to expand the company’s reach further.

Commenting on this move, Novomatic Executive Board Member Stefan Krenn said that the sale of ADMIRAL Group in Austria was a well-weighed move that was intended to spur the company’s future growth opportunities and drive expansion.

"In Tipico, we found a highly professional and reliable partner who will continue to operate ADMIRAL in Austria successfully and sustainably," Krenn added, arguing that Novomatic was not only looking to sell the brand but transfer ownership to the right hands.

For its part, Tipico Group CEO Axel Hefer was similarly upbeat about the deal, arguing that the group was similarly looking to expand and broaden its reach in German-speaking markets, and Austria in particular.

Both Tipico and Novomatic are keen to boost their global reach

Hefer hailed the deal as an opportunity to enhance the group’s existing portfolio of technology, innovative products, and consumer protection.

"We are pleased to have found in ADMIRAL a partner who shares these same values and we look forward to a successful future in the Austrian sports betting and gaming market," he concluded.

Tipico has been a formidable entity in the gambling industry, employing more than 1,000 people in its technological divisions in Germany, Austria, Malta and Poland, along with further 6,000 employees across its physical locations in both Germany and Austria.

Tipico is also debating whether it should withdraw from the market in the United States, eyeing a potential sale in the market amid increasing regulatory and business challenges.

Image credit: Unsplash.com