Allwyn is a leading multinational lottery operator. It announces that it has entered into a deal to obtain a 51% stake in Logflex MT Holding Limited. Logflex MT Holding Limited owns the growing Novibet online sports betting and gaming group. This is subject to customary regulatory and antitrust approvals. The agreement includes cash consideration of €217 million, subject to customary closing adjustments. It also includes up to €110 million in potential future performance-based earnings.
With its own technology stack, Novibet is an established gaming operator. Novibet has over 1,000 employees across hubs in Malta, Greece, and Brazil. It also has a market presence in Brazil, Cyprus, Greece, Ireland, Mexico, and other markets.
Novibet supports its strong customer proposition by focusing on superior product innovation, a data-driven offering, the speed and scalability of its infrastructure, localized content, and responsible gaming.
Allwyn’s purchase of Novibet enhances the Group’s technology capabilities and strengthens its position in the sports betting and online gaming markets. This move continues Allwyn’s strategy of selectively acquiring relevant products, technologies, and content to support its growth.
In early last year, Allwyn gained a majority stake in a leading provider of elnstants for lotteries worldwide, Instant Win Gaming, in line with this strategy.
Novibet’s founding management team has driven its success and will remain responsible for operating the business. This follows completion of the transaction. Novibet will keep on operating as a separate business under its existing brand and management team.
The investment in Novibet is expected to close in the second half of the year. This follows the receipt of all relevant legal and regulatory approvals, with an estimated initial cash consideration of €217 million which is subject to customary closing adjustments, plus up to €110 millionin potential future performance-based earn-outs.
