Multinational lottery operator Allwyn is acquiring a majority stake in Novibet parent company for an initial €217 million to strengthen its presence in the online betting and gaming sector.

Allwyn could pay another €110 million in potential future earnouts based on the performance of the deal for Logflex MT Holding, which is expected to close in the second half of 2025.

“Novibet has demonstrated its expansion in multiple markets and ability to innovate, which will strengthen our momentum and expand our offering to players,” said Robert Chvatal, CEO of Allwyn.

Novibet has its own tech stack and is present in jurisdictions such as Malta, Greece, Brazil, Ireland and Mexico.

“The potential for innovation in this transaction is significant as we aim to provide our customers with access to the very best online sports betting and gaming experience,” Chvatal added.

“Novibet has a world-class team and we look forward to taking advantage of the international opportunities ahead.”

Novibet’s management team will remain in charge and the company will continue to operate as an independent company following the completion of the transaction.

“This partnership will accelerate our ability to develop proprietary solutions, expand our product offering and bring our success to a much larger international audience more quickly,” said George Athanasopoulos, CEO of Novibet.

Allwyn’s investment in Novibet follows its acquisition of a majority stake in Instant Win Games, a provider of e-instant lottery games, earlier this year.