Allwyn and Logflex End Transaction Plans
Allwyn International has announced the decision to terminate its agreement with Logflex regarding the acquisition of the online sports betting and gaming group, Novibet.
The companies have jointly decided to withdraw their previously announced transaction from review by the Hellenic Competition Commission (HCC), following feedback received from the HCC.
Allwyn remarked: “While Allwyn and Logflex MT Holding Limited set out carefully considered proposals to the HCC, Allwyn is committed to only pursuing transactions that would deliver clear value for shareholders. Allwyn and Logflex MT Holding Limited therefore no longer expect the previously announced transaction to proceed.”
The proposed deal for Novibet was valued at €217 million, with an additional potential of up to €110 million in future earnouts subject to performance.
Allwyn's Market Position
Allwyn adopts a lottery-first approach that emphasizes affordable recreational play, which has helped secure leading market positions in various European countries, such as:
- Austria
- Czech Republic
- Greece
- Cyprus
- Italy
- United Kingdom
- United States (Illinois)
Novibet is recognized as an established gaming technology company with operations in Europe and Latin America, specifically in:
- Greece
- Brazil
- Ireland
- Italy
- Mexico
- Chile
- Ecuador
- Canada
The company boasts technology hubs in Greece and Malta, employing over 1,000 people across its different locations.
Currently, Allwyn is in the process of merging its operations with Greek operator OPAP, at a cost of €16 billion, as it aims to create a leading global gaming entertainment company.
