Allwyn Acquires Majority Stake in Novibet

Financial Terms

The deal includes an estimated initial cash consideration of €217 million, subject to customary closing adjustments, with an additional potential earnout of up to €110 million based on performance milestones. The transaction is expected to be finalized in the second half of 2025, pending all necessary legal and regulatory approvals.

Novibet, a operator, boasts a proprietary technology stack and a global workforce of over 1,000 employees based in Malta, Greece, and Brazil. With operations in Brazil, Cyprus, Greece, Ireland, and Mexico, among other regions.

Strategic Fit for Allwyn’s Growth Ambitions

The acquisition aligns with Allwyn’s broader strategy of making selective investments in innovative products, technologies, and content to fuel growth. Earlier this year, Allwyn acquired a majority stake in Instant Win Gaming, a eInstant solutions for lotteries.

Robert Chvatal, CEO of Allwyn, commented on the acquisition:

“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.”

Operational Continuity for Novibet

Following the acquisition, Novibet will maintain its independent operations under its current brand and management. The founding management team, whose leadership has been instrumental to Novibet’s success, will continue to oversee the business. George Athanasopoulos, CEO of Novibet, expressed his optimism about the partnership:

“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.”