Allwyn, a leading multinational lottery operator, is to acquire a majority stake in Novibet's parent company for an initial purchase price of €217 million.

Allwyn is specifically acquiring 51% of Logflex MT Holding Limited, with the aim of strengthening its presence in online betting and gaming. The deal is expected to be completed in the second half of 2025 after receiving regulatory approval. Allwyl may pay an additional €110 million in future performance-based earnings.

Novibet will continue to operate as a separate business under its current name and management team.

In its statement, Allwyn said Novibet is an established gaming operator with its own technology platform, employing more than 1,000 people in Malta, Greece and Brazil, and has a presence in markets such as Brazil, Cyprus, Greece, Ireland and Mexico, among others. "Novibet's strong customer acceptance is underpinned by its commitment to outstanding product innovation, data-driven offers, the flexibility of its infrastructure, its locally tailored content, and its responsible gaming."

Robert Chvatal, CEO of Allwyn, said: "Novibet has demonstrated an ability to expand across multiple markets but also an ability to innovate, which will enhance our momentum and improve what we offer players. The momentum in terms of innovation in this transaction is significant as we seek to give our customers access to a better online sports betting and gaming experience. Novibet has a world-class team, and we look forward to capitalising on the international opportunities that lie ahead."

George Athanasopoulos, CEO of Novibet, added: "Joining Allwyn marks the opening of an exciting new chapter for Novibet. Allwyn's commitment to every growth opportunity was a key factor in our decision, and we look forward to combining their extensive resources and expertise with our own leading technology and operational experience. This partnership will accelerate our ability to develop our own solutions, expand our product offering, and extend our success to a much larger international audience at a faster pace. We also want to acknowledge the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been integral to achieving this milestone. With their continued support, we remain committed to delivering tremendous value to both our customers and our shareholders."