Allwyn Novibet Deal Cancelled After Hellenic Competition Commission Review
Allwyn has withdrawn its planned iGaming acquisition of online sports betting and gaming operator Novibet following regulatory feedback during a competition review.
Allwyn International AG confirmed that it will no longer proceed with its previously announced plan to acquire a controlling stake in Novibet. The decision follows discussions with the Hellenic Competition Commission during the regulatory review of the proposed transaction, bringing the planned Allwyn Novibet deal to an end.
The deal, announced in December 2024, involved Allwyn acquiring a 51% stake in Logflex MT Holding Limited, Novibet’s parent company, according to the company’s original acquisition announcement. The proposed iGaming acquisition was expected to strengthen Allwyn’s position in the online gambling and sports betting sector while expanding its digital capabilities within the global iGaming industry.
Details of the Proposed Acquisition
Under the original agreement, Allwyn planned an initial investment of €217 million to acquire the 51% stake, with the possibility of an additional €110 million in performance-based earnouts.
The Allwyn Novibet deal formed part of Allwyn’s broader strategy to expand its presence in online gambling and sports betting through targeted investments in technology, digital products and gaming platforms.
At the time of the announcement, Allwyn CEO Robert Chvatal said Novibet had demonstrated strong growth across multiple markets and a strong ability to innovate in the iGaming industry, making it an attractive strategic partner.
Regulatory Review and Withdrawal Decision
The proposed transaction was subject to regulatory review by the Hellenic Competition Commission, which previously opened an in-depth investigation into the Allwyn Novibet acquisition. During the review process, the regulator provided feedback regarding the Allwyn Novibet deal.
Following discussions with the competition authority, Allwyn and Logflex MT Holding Limited jointly decided to withdraw the transaction from the review process. As a result, the companies confirmed that the planned iGaming acquisition will no longer proceed.
The development highlights the growing role regulatory authorities continue to play in reviewing mergers and acquisitions within the iGaming industry, particularly as operators expand across online gambling and sports betting markets.
Allwyn’s Presence in the Global Gaming Sector
Allwyn is a multinational lottery and gaming operator headquartered in Europe. The company operates national lotteries and gaming services across several markets including the United Kingdom, Austria, the Czech Republic and Greece through OPAP, and has also pursued strategic corporate deals such as the €16 billion business combination between Allwyn and OPAP.
In recent years, Allwyn has increasingly focused on expanding its digital gaming strategy through investments, partnerships and acquisitions aimed at strengthening its presence in the global online gambling and sports betting sectors. The company has also pursued major strategic deals, including its $1.53 billion acquisition of a majority stake in PrizePicks to expand its footprint in the United States.
Novibet’s International Online Betting Operations
Novibet is an online sports betting and gaming operator with operations across Europe and Latin America. The company employs more than 1,000 staff and operates technology hubs in Malta and Greece. The company has also recorded strong financial growth in recent years, including $395 million in gross gaming revenue, highlighting its expanding presence in the global iGaming market.
Its platforms serve several international markets including Brazil, Cyprus, Ireland and Mexico, supporting its continued growth in the global iGaming industry and the broader online gambling market.
Source : allwyn
