Illinois lottery provider Allwyn acquires controlling interest in igaming developer Novibet
Multi-national lottery provider Allwyn has confirmed it has agreed to acquire a 51% stake in LogFlex MT Holding Limited, the company behind Novibet. Allwyn provides lottery services worldwide, including in Illinois and Brazil, and employs more than 1,000 people.
Robert Chvatal, CEO of Allwyn, said, ”Novibet has demonstrated expansion across multiple markets, and an ability to innovate, which will strengthen our momentum and enhance our offer to players. 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 capitalizing on the international opportunities ahead.”
The acquisition of Novibet is expected to be completed in the second half of 2025. It will cost an initial €217 million (US$225 million), plus an additional €110 million (US$114 million) based on performance.
George Athanasopoulos, CEO of Novibet, commented, “Joining Allwyn marks the start of an exciting new chapter for Novibet. 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. We also want to recognize the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been integral to reaching this milestone. With their continued support, we remain committed to delivering exceptional value for both our customers and our shareholders.”
Novibet is a sportsbook and gaming provider that operates worldwide. In 2022, the company agreed to partner with Caesars Entertainment in New Jersey. However, that deal has yet to come to fruition, as Novibet has not launched in New Jersey. Meanwhile, the company also secured a license to launch Big Bola Casino in Mexico in 2022, and this online gambling platform is now live.
Meanwhile, Allwyn is a lottery operator that moved into the North American market in February 2023 by buying Camelot Lottery Solutions (Camelot LS) and rebranding this company to Allwyn North America.
At the time of the rebrand, Allwyn CEO Chvatal said, “North America is an important market for Allwyn, where we see strong potential for future growth.
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