Novibet is an established gaming operator with its own technology stack, with over 1,000 employees across hubs in Malta, Greece and Brazil and a market presence in Brazil, Cyprus, Greece, Ireland and Mexico, among other markets.
Novibet’s strong customer proposition is supported by its focus on superior product innovation, a data-driven offering, the speed and scalability of its infrastructure, localised content and responsible gaming.
Allwyn’s acquisition of Novibet enhances the Group’s technology capabilities as well as strengthening its capabilities in the sports betting and online gaming markets, continuing Allwyn’s strategy of making selective acquisitions in relevant products, technologies and content to support its growth.
In line with this strategy, in early 2024, Allwyn acquired a majority stake in Instant Win Gaming, a leading provider of eInstants for lotteries worldwide.
Novibet’s success has been driven by its founding management team, who will remain responsible for the operation of the business following completion of the transaction. Novibet will continue to operate as a separate business under its existing brand and management team.
The investment in Novibet is expected to close in the second half of 2025 following receipt of all relevant legal and regulatory approvals, with an estimated initial cash consideration of €217 million (subject to customary closing adjustments), plus up to €110 million in potential future performance-based earn-outs.
Robert Chvatal, CEO of Allwyn, said: “Novibet has demonstrated expansion into multiple markets and an ability to innovate, which will strengthen our momentum and enhance our offering to players.
“The innovation potential of this transaction is substantial as we seek to provide our customers with access to the best 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 beginning 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,” he added.
“We also want to acknowledge the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been essential in achieving this milestone. With their continued support, we remain committed to delivering exceptional value to both our customers and our shareholders,” he concluded.
Source: GMB