Allwyn, a outstanding multinational lottery operator, has taken a major step in increasing its presence within the iGaming sector by buying a 51% stake in Novibet. This strategic funding, valued at €327 million, will allow Allwyn to boost its technological and operational sources whereas broadening its footprint throughout Europe and South America. Novibet, a rising on-line sports activities betting and gaming operator, is acknowledged for its proprietary expertise and modern method.
A strategic partnership for progress:
The settlement between Allwyn and Novibet underscores a shared dedication to progress and innovation within the iGaming business. Novibet, with over 1,000 workers and operations spanning nations comparable to Greece, Brazil, Cyprus, Eire, and Mexico, brings a wealth of experience and a sturdy buyer base to the desk.
In his assertion, Allwyn’s Group CEO Robert Chvatal highlighted some great benefits of the deal within the firm’s press launch: “Novibet has demonstrated growth throughout a number of markets, and a capability to innovate, which is able to strengthen our momentum and improve our supply to gamers.”
This partnership is predicted to bolster Allwyn’s capabilities in on-line sports activities betting and gaming, complementing its broader technique of focused acquisitions. Earlier in 2024, Allwyn acquired a 70% stake in On the spot Win Gaming, a number one developer of eInstants for world lotteries, additional enhancing its digital choices.
Based in 2010, Novibet has established itself as a key participant within the on-line gaming sector, notably in Greece, the place it’s the second-largest operator. The corporate has steadily expanded into regulated markets, together with Italy, Malta, and Eire, with plans for additional progress in Romania, Hungary, France, and Spain.
George Athanasopoulos, CEO of Novibet, expressed enthusiasm concerning the partnership with Allwyn, stating: “Becoming a member of Allwyn marks the beginning of an thrilling new chapter for Novibet. Allwyn’s dedication to progress alternatives was a key consider our resolution, and we sit up for combining their intensive sources and experience with our main expertise and operational expertise.”
Athanasopoulos emphasised that the collaboration would speed up the event of proprietary options, broaden Novibet’s product portfolio, and improve its potential to succeed in a broader worldwide viewers.
Monetary and operational particulars:
The acquisition includes an preliminary money fee of €217 million, together with potential performance-based earnouts of as much as €110 million. The transaction is predicted to conclude within the second half of 2025, pending regulatory approvals.
Regardless of this acquisition, Novibet will preserve its operational independence. Its founding administration crew will proceed to guide the corporate, working beneath its current model to make sure continuity in its enterprise mannequin and buyer relationships.
The Novibet acquisition caps off a transformative yr for Allwyn. In February 2024, the corporate assumed accountability for managing the UK’s Nationwide Lottery, succeeding Camelot UK. With its give attention to strategic acquisitions, Allwyn has persistently demonstrated its dedication to innovation and growth within the world gaming business.
