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Allwyn steps back from Novibet acquisition plan
Allwyn International has dropped its planned acquisition of Novibet after receiving feedback from the Greek gambling regulator Hellenic Competition Commission (HCC).
Allwyn revealed that the decision was made after considering the regulator’s concerns, as the HCC raised questions about competition impacts that the deal could bring. After discussions, it was decided that the measures were not sufficient to keep up the value of the deal, leading Allwyn and Novibet’s parent company, Logflex MT, to withdraw the proposal.
Allwyn CEO Robert Chvatal had previously commented on the acquisition:
“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.”
Allwyn’s plans to buy a 51% stake in Logflex MT were announced in December 2024, as the agreement included an upfront payment of €217 million and around €110 million in performance-based earnouts. It was expected that the deal would have been completed by the second half of 2025, but the HCC’s evaluation took longer.
Novibet has the second-biggest share of Greece’s regulated online sports betting market at around 20%, while Allwyn has an established presence with its majority stake in OPAP.
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