Novibet Purchased By Allwyn, the Latter Will Control 51%
Allwyn International has continued its aggressive expansion plans with the purchase of a controlling stake in Novibet.
Novibet will become part of Allwyn International after a takeover deal. © philreeseabb, Pixabay
Key Facts:
- Allwyn International has bought a 51% stake in Novibet’s business
- Investment is expected to close in the latter months of 2025
- Deal is worth an estimated initial cash consideration of €217 million
- Up to €110 million in potential future earnouts also on the table
The deal, which is subject to the usual industry regulatory and antitrust approvals, is worth a total of €327m and was announced just before the start of the new year.
Allwyn will pay €217 million for 51% stake in Novibet owner Logflex MT Holding Limited, while as much as €110 million could be added to the value of the deal in potential future earnouts.
It concludes a stellar 2024 for Allwyn, which took over as the operator of the UK’s National Lottery and has expanded ambitiously across Europe in recent months.
Allwyn’s takeover of Novibet is expected to be finalised in the second half of 2025.
Strengthening Momentum
Allwyn’s chief executive Robert Chvatal believes that Novibet is a good fit for the business.
He said: “Novibet has demonstrated expansion across multiple markets, and an ability to innovate, which will strengthen our momentum and enhance our offer to players.”
Novibet employs over 1,000 people across the firm’s main hubs in Malta, Greece and Brazil.
Chvatal feels the wealth of experience within the Novibet staff will be a boost for Allwyn.
He added: “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.”
Allwyn has been revamping its top team in recent months, having appointed Elena Chambers as the company’s new group chief transformation and corporate development officer.
Separate Business
In its statement announcing the deal, Allwyn confirmed that Novibet will continue to operate as a separate business, while its founding management team will stay in place.
Novibet’s chief executive George Athanasopoulos described the Allwyn takeover as the start of an “exciting new chapter” for the company, which operates in markets such as Brazil, Ireland, Mexico, Cyprus and Greece.
He said: “Allwyn’s dedication to growth opportunities was a key factor in our decision, and we look forward to combining their extensive resources and expertise with our leading technology and operational experience. This partnership will accelerate our ability to develop proprietary solutions, expand our product offering, and extend our success to a much larger international audience at a faster pace.”
