Allwyn, a major lottery operator, is set to acquire 51% of Novibet, a online sports betting and gaming company. The deal is valued at an initial €217 million, with up to €110 million in potential earnouts. Completion is expected in the second half of 2025, pending approvals.
- Novibet operates in multiple markets, including Brazil, Greece, and Mexico, and employs over 1,000 staff. The company boasts its own technology stack, which supports scalability, speed, and localized content. This infrastructure underpins a focus on data-driven offerings and responsible gaming practices.
- The acquisition aligns with Allwyn’s growth strategy, which focuses on selective investments in relevant technologies and content. Earlier in 2024, Allwyn also acquired a majority stake in Instant Win Gaming to expand its lottery product portfolio. Novibet will further boost Allwyn’s capabilities in online sports betting and gaming.
- Novibet’s founding management team will stay in charge, ensuring operational continuity after the deal closes. The business will continue to run as an independent brand under its current leadership. This approach supports both Allwyn’s and Novibet’s focus on delivering consistent value to their markets.
- The initial cash consideration for the deal is €217 million, with performance-based earnouts potentially adding €110 million. The final payout depends on how well Novibet performs after the acquisition. Regulatory and antitrust approvals are required before the deal’s closure.
- Allwyn CEO Robert Chvatal highlighted Novibet’s innovation and market expansion as key benefits of the deal. He sees the acquisition as a way to offer customers an enhanced gaming experience. Novibet’s advanced technology and strong market presence will support Allwyn’s international ambitions.
- Novibet CEO George Athanasopoulos described the partnership as a step forward for the company’s global growth. He praised Allwyn’s resources and expertise, which will help Novibet develop new products faster. Athanasopoulos credited the dedication of Novibet’s team for reaching this milestone.