Allwyn Secures 51% Stake in Novibet Parent Company

Allwyn has secured a majority stake in Novibet’s parent company Logflex MT Holding Limited. The deal will expand the former company’s position as a leading lottery company and a rising iGaming star.

Allwyn Continues to Grow Its Business

As confirmed by Allwyn, the transaction will see it acquire a controlling 51% stake in Logflex. This deal will expand Allwyn’s presence in online gaming, allowing it to capitalize on the popularity of the Novibet betting and gaming brand.

According to the announcement, Allwyn will pay an initial cash consideration of EUR 217 million, followed by up to EUR 110 million in potential future earnouts based on Logflex’s performance.

Novibet, for context, is an established gaming company with a proprietary tech stack and some 1,000+ employees across hubs in Brazil, Greece and Malta. The company operates in numerous markets, including Brazil, Cyprus, Greece, Ireland, and Mexico, among others.

What sets Novibet apart from its competitors is its cutting-edge offering paired with a drive for innovation, superior speed, localized content, responsible gaming and scalable infrastructure.

The acquisition will strengthen Allwyn’s tech capabilities, and will reinforce its ability to operate online betting and further diversify its product. The deal is in line with the Czech operator’s ambition to grow via strategic M&A deals. Earlier this year, for example, Allwyn also acquired Instant Win Gaming, a leading provider of iLottery content.

The acquisition of a 51% controlling stake is expected to close in H2 2025 and is subject to relevant legal and regulatory approvals. Allwyn confirmed that it will keep the existing Novibet team in charge in the wake of the acquisition and will continue to operate Novibet as a separate business.

Executives Hailed the Transaction

Representatives of the two companies commented on the matter, expressing excitement about the transaction. Robert Chvatal, Allwyn’s chief executive officer, praised Novibet’s recent growth, which has highlighted the company’s ability to innovate. He is certain that the acquisition will strengthen his team’s momentum and enhance the overall Allwyn offer.

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.

Robert Chvatal, CEO, Allwyn

George Athanasopoulos, Novibet’s chief executive officer, was likewise thrilled about the deal. According to him, joining Allwyn would mark the start of an exciting new chapter for his company. He praised Allwyn’s dedication to growth and innovation and said that he is looking forward to pairing Novibet’s tech stack and experience with Allwyn’s extensive resources. Athanasopoulos emphasized that this will help Novibet improve its pipeline and expand its product offering.

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.

George Athanasopoulos, CEO, Allwyn

A few weeks ago, Allwyn published its Q3 results, highlighting strong performances in key markets.